Tax changes may hit trans-Tasman transfers
The Australian Government has imposed a number of superannuation changes in its latest budget.
Among them are a new lifetime cap of $500,000 on after-tax superannuation contributions - those deposits made outside deductions from income.
It is also imposing a maximum pension balance of $1.6 million, and limiting the amount of contributions that can be made per year, with the tax concession applied, to $25,000.
Tony Negline, head of superannuation for Chartered Accountants Australia and New Zealand, said New Zealanders who were working or running businesses in Australia could be affected.
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