A RAFT of changes to Australia's superannuation system come into effect from July 1, 2017.
They include a new cap on the amount you can transfer from your accumulated super into a pension account, and changes to how transition to retirement income streams are taxed.
From July 1, there will be a limit on how much of your super you can transfer from your accumulation super account to a tax-free "retirement phase" account to receive an account-based pension income.
This is known as the super transfer balance gap.
As well, from July 1 the government will remove the tax-exempt status of earnings from assets that support a transition to retirement income stream.
Earnings from assets supporting a transition to retirement income stream will be taxed at 15 per cent regardless of the date the stream began.
More details www.ato.gov.au/superchanges