Budget 2014 - one week later

After a week’s reflection how does the Budget affect SMSFs and superannuation?  

On the positive side the Budget does solve the problem of excess non-concessional contributions.  

While on the negative side the Budget will pause the SG rate at 9.5% for three years and will tighten the access conditions and future growth of the age pension.  

Additionally, the effect of the Deficit Levy carries over to the tax rates relating to excess non-concessional contributions, non-complying funds and non-arm’s length income of complying funds.

SUPERCentral Comment

Significantly, the Budget does not alter the superannuation preservation age or otherwise restrict access to superannuation benefits.  Changes to the preservation age and access to super benefits are, apparently, being considered by the Government.