Concessional (before-tax) contributions

Concessional is a term used to describe favourable tax treatment. For example, earnings in superannuation funds receive concessional tax treatment. The term 'concessional contributions' means that such contributions receive special tax treatment.

Concessional contributions are before-tax contributions that can include employer contributions, contributions made under a salary sacrifice arrangement and tax-deductible contributions by an individual.

Set out below are all SuperGuide articles explaining Concessional (before-tax) contributions.

Superannuation tax refund: 10 things you should know

NOTE: The Low Income Super Contribution for low-income earners is available until the 2016/2017 financial year (until 30 June 2017). Originally, the Coalition government planned to repeal the LISC after one year of operation, that is, it was expected to only apply for the 2012/2013 year. Due to … [Read more...]

MySuper: Now at a super fund near you

If you believe the federal government’s public relations campaign, MySuper can deliver you the equivalent of nirvana in superannuation – low fees, strong investment performance, financial security and a worry-free retirement.Pardon? You haven’t seen the government’s MySuper publicity campaign? I … [Read more...]

Super for Beginners (25 Q&As)

One of SuperGuide’s more popular initiatives has been the development of a ‘Super for Beginners’ section that answers some of the many questions that we receive from those readers who are new to superannuation and new to super’s terminology.The series currently consists of several lead articles, … [Read more...]

Super for beginners, part 25: Is super worthwhile if I’m earning less than $37,000?

Q: Great site! Lots of excellent information. I now work part-time, earning just under $37,000, and wondered whether I should bother with super. I am pretty sure I will get the Age Pension, and based on my income I reckon I would be better to save outside super and pay less tax, rather than have my … [Read more...]

Super for beginners, part 22: How do you speak ‘superannuation’ (… in 20 words)?

Many Australians find the stodgy language of superannuation confusing. The terminology associated with superannuation is a barrier to self-education and may deter some Australians from taking early steps to plan for retirement. Millions of Australians care about their super account even though they … [Read more...]

Know your super limits: Reducing CGT via concessional contributions

Q: I am one of those people (and my wife) who made the decision years ago to invest in property rather than super. Now at 60, (wife 55) I am retired and live off my property investments. I would like to get rid of the properties at about age 65. Mainly because of the worry, and maintenance upkeep, … [Read more...]

Tax-deductible super contributions: Claim no more than your income

Q: If I make a personal concessional payment of $30,000 (tax-deductible) and a personal $180,000 non-concessional (non-tax deductible) payment into my SMSF and my personal taxable income for 2015/2016 is $20,000, are there possible tax penalties because I’m claiming $10,000 more than my taxable … [Read more...]

Making super contributions: Aged 65 years or older

Q: From reading SuperGuide articles, I can see that for people between 50 and 74 years, the concessional contribution cap is $35,000 a year, and that for non-concessional contribution, the cap is $180,000. Is this $180,000 cap for NON-concessional contribution the same regardless of the age of the … [Read more...]

Super contributions beyond the age of 75

Q: If employers must now make Superannuation Guarantee contributions for over-70s, does this mean that additional concessional or non-concessional contributions can also be made by those aged over 75?A: The short answer is ‘no’. Although employers are now required to make SG contributions for … [Read more...]