I think the main change is that concessional contributions can be accessed in a different way going forward. It’s an under reported change and it’s a change that I like talking about quite a bit. Because right now an employed salaried person can only access concessional contributions through sometimes convoluted and complicated salary sacrifice arrangements.
Employers are actually allowed not to offer it, if an employer doesn’t want to offer a salary sacrifice arrangement then it is what it is. That is being abolished now, from July this year.
So an employee and the vast majority of people in this country that are employed, can make cash contributions into super any time during the year and claim it as a tax deduction. So I think that’s a major change.