- The annual NCC cap will be reduced to $100K from 1 July 2017 (currently $180K)
- The ability to bring forward contributions for members aged less than 65 will remain but will be reduced to 3 times the new cap (ie to $300K)
- No NCC’s can be made for members whose account balance exceeds $1.6 million (indexed)
- The “work test” will not be abolished
- The start date for the measure to utilise 5 years’ worth of concessional contributions caps will be deferred to 1 July 2018
The abolition of the 10% test is still proposed to proceed.
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