Budget 2009 - Superannuation, What Has Changed?

Concessional Contributions Cap  –  for 2009/10 and following years this will be $25,000.  (Under the Costello Super Regime this cap for 2009/10 would have been $55,000.)  Presumably the cap will still be indexed.
 
Transitional Concessional Contributions Cap – for 2009/10, 2010/11 and 2011/12 this will be $50,000 (Under the Costello Super Regime – this would have been $100,000).  This cap only applies to a super investor if they are aged 50 or more at any time during the relevant financial years. This cap ceases on 1 July 2012.

Non-Concessional Contributions Cap  -  it seems that this cap will not be reduced.  However, it is uncertain whether the dollar amount of the cap will be $150,000 or whether the Government will retain the indexed amount of the cap, which is $165,000.

Bring-forward of the Non-Concessional Contributions Cap  -  it seems that the ability to bring forward up to three years worth of the non-concessional contributions cap will be retained.

It seems that the special limits applying to personal injury contributions (not capped) and contributions relating to CGT small business concessions ($1m cap and indexed) are unaltered.

Government Co-Contribution – for the next three years this will reduce from 150% of eligible contributions to 100% of eligible contributions.  Consequently, the maximum co-contribution will be $1,000 rather than $1,500.   A 125% rate will apply for 2012/13 and 2013/14.  Presumably the 150% rate will reapply from 1 July 2014.