Want a tax deduction on personal super contributions after 67? Be wary
Although new contribution opportunities up to 75 are exciting for most people, in this case the work test has to be met.
Read MoreAlthough new contribution opportunities up to 75 are exciting for most people, in this case the work test has to be met.
Read MoreA recontribution strategy is something many people do once they reach an age where they are allowed to access their super. It involves taking money out of your super balance and then putting it back in again (recontributing it).
Read MoreRetirement might be a long way off, but can a child qualify for a Government co-contribution if they want to kick-start their super?
Read MorePersonal deductible super contributions by someone less than 18 are not a common occurrence. But there may be circumstances where it’s worth looking at. But is every child eligible?
Read MoreMost of the time, growing your super balance is quite an individual pursuit. But what can you share with your spouse and when can you do it?
Read MoreWith only 8 sitting days before the Federal Budget is due to be handed down on 29 March 2022 and an election to be called, there are a number of outstanding super measures to be dealt with.
Read MoreThere were several important superannuation measures announced in the May 2021 Federal Budget, mostly relating to contributions. A new Bill handed to Parliament this week will implement them if passed.
Read MoreAustralia’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.
Read MoreIt is almost always beneficial to take the refund option – some people will need it to pay the extra tax bill.
Read MoreNew 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?
Read MoreThe 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.
Read MoreThe new rules mean you could be making after-tax top ups as well, so it’s vital to get your timing right.
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