The Institute of Public Accountants (IPA) is calling for the Government not to reduce the cap on concessional superannuation contributions, in a submission to the Treasury this week. IPA chief executive, Andrew Conway, said that the IPA would not support the proposed changes in the second and third tranches of the super reform package.
"The IPA does not support the reduction of the contributions cap to $25,000 and more so, we do not agree to the reduction of the current cap of $35,000 for individuals aged over 50 years of age," he said. "People aged over 50 should be encouraged to make further superannuation contributions if they have the capacity."