Australia’s retirement income system includes significant tax concessions for superannuation. However, the rules are complex and too often I see contribution strategies unravel with additional taxes payable. Here’s my top 7 tips to avoid problems.

New rules allowing individuals to initiate a “bring forward” of future years’ non-concessional contribution caps up until the year they turn 67 (rather than 65) have finally passed. They will apply from 1 July 2020. What quirks should we watch?

The concessional contributions cap increases from $25,000 to $27,500 from 1 July 2021 – a good thing for anyone wanting to add to their super. But there’s another change just passed by Parliament relating to the consequences of exceeding the cap.

The new rules mean you could be making after-tax top ups as well, so it’s vital to get your timing right.

The Treasurer announced 4 significant changes for superannuation contributions in the Federal Budget, all of which are expected to start from 1 July 2022 (subject to the relevant legislation receiving Royal Assent before that date).

While there were a few sweeteners in the budget which will potentially allow clients to get more of their hard-earned money inside super, for most clients it will be business as usual. Here is what you need to know as you head into year-end.

These rules allow anyone who does not use the full amount of their concessional contributions cap in a particular year to carry the shortfall forward for up to five years and potentially “catch up” later. Who should be thinking about this in 2020/21?

Late last week the November 2020 Average Weekly Earnings data was released which means we now know for sure that the concessional contributions cap will increase from $25,000 to $27,500 from 1 July 2021.

In the last days of Parliament, there were super related measures still to be passed into law and others still in the pipeline. They have now retired for the year and the ATO is shutting down for the year, so what is the status of these measures?

Like Meg Heffron, I was torn when thinking about this year’s Federal Budget. Was I hoping for no changes to super to provide some stability for our clients or was I hoping for a few changes to get my teeth into. And the result was ….

Making more retirement savings tax-free makes it easier for adults kids to inherit, as well as 'future-proofing' your fund.

The Government has committed to deliver on their proposal to increase flexibility for those in their mid-60s to make contributions as well as other superannuation measures.