Changes to the $25,000 Superannuation Concessional Contribution Cap

The Government has proposed the introduction of an annual (unindexed) concessional contribution cap of $35,000 that will apply to taxpayers who meet certain age requirements. Under this announcement, taxpayers who are 60 years and over from 1 July 2013 (ie; the 2014 income year) will be eligible to claim the new $35,000 concessional contribution cap….