What you need to know about the 3 Million Dollar Super Contribution Cap 2023
Will you be affected by the new proposed $3 million-dollar super contribution cap in 2023? The Australian Government has recently proposed a new law that could impact the superannuation savings of some individuals. The proposed legislation will see balances in Superannuation above $3 million taxed an additional 15%, bringing the total tax rate to 30%. So,…