Super for beginners, part 3: Why aren’t my super contributions tax-free?
Q: I checked my statement and I put an extra $10 per week into my super and each time an amount is put in, it has been taxed. Is this right? I thought that my contributions were tax-free?
Super concessional contributions: 2011/2012 survival guide
Superannuation contributions can be divided into two types — concessional (before-tax) and non-concessional (after-tax). Each type of super contribution is subject to a contributions cap.
Concessional contributions: Turning 50 is all about timing
Q: I was born in April 1961 (turning 50 in April 2011). Can you explain which financial year I am considered to be over 50 in relation to the $50,000 concessional contributions cap?
Making super contributions: cracking concessional cap means more tax
Q: I’m 53, put $24,700 of pre-tax contributions into my super account ($950/fortnight) with my employer also putting in about $7,000 a year. So, the super rules mean I can still salary sacrifice this $950/fortnight amount until July 2012, attracting only 15% tax, then every dollar contributed after that to my account over $25,000 attracts %30 tax.
The short story on super contribution limits
You can make two types of superannuation contributions and each type of contribution has a separate limit. Concessional contributions: Before-tax contributions, such as salary sacrificed contributions and personal tax-deductible contributions, are known as concessional contributions. The limits for this type [...]
