I have exceeded the contributions cap. What can I do?
Q: It seems I have exceeded the contributions cap in 2007-2008 by $6,600 and the ATO has imposed a penalty. Can you provide any guidance on what sort of pleas they would consider?
Super for beginners, part 15: Super tax – as easy as 1-2-3
Your superannuation benefit can be taxed at three stages: When making contributions, when a super fund earns income and when receiving super benefits
Bring forward rule: 10 facts you should know
I receive a lot of questions from readers seeking information about how the non-concessional (after-tax) super contributions rules work; in particular, how the bring-forward rule works.
Beef up your super using a bring forward
Q: Under the 2-year bring-forward of non-concessional contributions, if a person makes a contribution of $150,001 when age 64, he can continue to contribute the balance of the $450,000 anytime during the next 2 years without having to satisfying the work test, is that right?
Turning 65: Maxing out the after-tax contributions cap
Q: If you turn 65 and retire after 1 July 2011, can you still make the $450,000 bring-forward non-concessional contribution as long as it’s before 30 June 2011? Or do you have to satisfy the work test to do so?
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.
Super contributions: Juggling two caps is not excessive
Q: For a taxpayer aged over 50, can a total contribution of $200,000 this financial year (150K non concessional and 50k concessional) and a total contribution of $500,000 next financial year (450k non concessional and 50K concessional) be made without attracting penalty tax?
Non-concessional contributions: Tread carefully when age 63 or 64 or 65
Q: I am 64 and want to take advantage of the bring-forward rules when making non-concessional contributions. I turn 65 sometime during the 2011/2012 financial year. There is a possibility that I will be able to dispose of a property during the financial years 2011/2012 or 2012/2013.
Super contributions: What’s going on with the over-50s concessional cap?
I have received dozens of emails asking for clarification about the over-50s concessional cap, including who will be eligible for the $50,000 cap from July 2012, and how the $500,000 account balance threshold will be implemented.
Super contributions: Over-50s concessional cap (10 Q&As)
In this article, you can find the answers to 10 of the most popular questions received by readers on the concessional cap for over-50s.
Federal Budget May 2011: At a super glance
Although Wayne Swan promoted the package of documents as delivering jobs and spreading the benefits of the mining boom to more Australians, the May 2011 Budget also delivered several superannuation measures including:
