Super Guide for your 20s 30s and 40s

If you are under the age of 50, you are subject to a lower contributions cap when making concessional (before-tax) contributions. In addition, anyone under the age of 50 cannot access super benefits except in limited special circumstances, such as, suffering severe financial hardship or permanent disability.


Set out below are all SuperGuide articles explaining Super Guide for your 20s 30s and 40s.

TRIPs: 10 interesting facts about transition-to-retirement pensions

Pixmac000012375043_cake_trip

Note: The general concessional contributions cap remains at $30,000 (for the 2015/2016 year, and also applies for the 2014/2015 year). The special $35,000 cap for over-50s continues to apply for the 2015/2016 year (or more specifically, to anyone who is aged 49 years or over on 30 June 2015). If … [Read more...]

Superannuation Guarantee remains at 9.5% for 2015/2016 year

Storm_2535020_c

The Superannuation Guarantee rate remains at 9.5% for the 2015/2016 financial year, and stalls at this rate for another 6 years. The Superannuation Guarantee rate first increased to 9.5% from 1 July 2014 (the 2014/2015 year). Based on revised laws, the SG rate will remain at 9.5% for another 6 … [Read more...]

Bring-forward rule: 10 facts you should know

Pixmac000084284866_forward

I receive a lot of questions from readers seeking information about how the non-concessional (after-tax) rules work; in particular, how the bring-forward rules works. The bring-forward rule works over a 3-year period so it is very important that you keep track of the size and timing of any … [Read more...]

Superannuation Guarantee: 10 facts about your SG entitlements

fact

Note: Since 1 July 2014, the Superannuation Guarantee rate increased to 9.5% (from the 9.25% that applied for the 2013/2014 year). The SG rate now remains at 9.5% for another 6 years, increasing to 10% from July 2021, and eventually to 12% from July 2025. If you work as an employee, and you … [Read more...]

Super contributions: Beef up using a bring forward

Pixmac000015691533_beefingup

Q: Under the 2-year bring-forward of non-concessional contributions, if a person makes an after-tax contribution of $180,001 when age 64 during the 2014/2015 year, can he continue to contribute the balance of the $540,000 anytime during the next 2 years without having to satisfy the work … [Read more...]

Accessing super early: Terminally ill receive tax break

Pixmac000042738319_terminally_ill

Individuals with a terminal medical condition are able to access their super lump sum payments tax-free, regardless of age. A super fund can release super benefits to a member if they have a terminal medical condition. According to the legislation, a terminal medical condition exists if two … [Read more...]

Does the Government’s co-contribution count towards my contributions cap?

co-contribution_3370117_c

Q: Does a co-contribution received after using up the total bring forward cap of $540,000 mean that an excess contribution has been made, or is the Government co-contribution excluded from the after-tax contribution cap? A: A superannuation co-contribution is a tax-free super contribution paid by … [Read more...]

Superannuation rates and thresholds for 2015/2016 year (and 2014/2015 year)

Pixmac000044104393_guide

Note: This article lists the latest superannuation rates and thresholds for the 2015/2016 year, and for the 2014/2015 year, and also for earlier financial years. One of the most searched-for superannuation thresholds is the concessional contributions cap for the latest financial year. For the … [Read more...]

Super contributions: How much co-contribution will I get?

Calculator_3369839_c

Q: Where do I go to find a calculator that helps me work out how much co-contribution I will be entitled to, and how much super I need to contribute to get that co-contribution? I am also looking for something that shows the sliding scale for different income levels and different super … [Read more...]

Super contributions caps for the 2015/2016 year

Limits_9856403_c

The superannuation contributions caps for concessional (before tax) and non-concessional (after tax) contributions will not increase for the 2015/2016 year. The contributions caps applicable for the 2015/2016 year, will be the same limits in place for the 2014/2015 year. Concessional … [Read more...]