Changes to superannuation

How the updates may affect your super

Federal Budget 2024-25

While a large part of the 2024-25 Federal Budget is aimed at cost-of-living relief, there are several important announcements relating to superannuation. Below is a summary of the latest measures along with previously announced changes to super. It’s important to note that some of these changes are now legislated to take place. Others will need to become law before they can be implemented.

For super members / retirees

For employers

For more information

As well as measures relating to super, the 2024-25 Federal Budget includes full details on the stage 3 Tax Cuts and a range of cost-of-living measures including a $300 energy bill rebate, an increase in all Commonwealth Rent Assistance maximum rates by 10% from September 20, 2024 and changes to the way HELP loans will be indexed.

Full details on all measures announced in the latest and past Federal Budgets can be found here.

Sources:

Personal financial product advice is provided under the Australian Financial Services Licence held by a third party and not by AustralianSuper Pty Ltd. Some personal advice may attract a fee, which would be outlined before any work is completed and is subject to your agreement. With your approval, the fee for advice relating to your AustralianSuper account may be deducted from your AustralianSuper account subject to eligibility criteria.
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