Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 21-Jul-16

The Australian Government will allow exemptions to its proposed $A500,000 lifetime cap on non-concessional superannuation contributions, to take into account "life events" such as a divorce settlement or an inheritance. The cap had been expected to generate Budget savings of about $A550m over four years, but some estimates have suggested that the exemptions could potentially cost between $A300m and $A450m. Meanwhile, shadow treasurer Chris Bowen has stressed that any super reforms must not be retrospective. The Government plans to backdate the lifetime cap to 2007.

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