Happy new (financial) year! In this special newsletter we’ve updated all SuperGuide articles covering the key rules, regulations, rates and thresholds for the 2023-24 financial year and highlighted the major changes that take place from 1 July 2023.
Some of the key changes include:
- Superannuation guarantee increases from 10.5% to 11%
- Return to standard minimum pension drawdowns
- Transfer balance cap increases from $1.7 million to $1.9 million
- Age Pension eligibility age increases from 66 years and 6 months to 67 years
2023-24 SUPER AND PENSION CHANGES
Navigating your way around the constant rule changes in the super system is tricky, so here’s our annual list of the modifications you need to know about. Read more.
Navigating your way around the constant rule changes in the super system is tricky, so here’s our annual list of the modifications you need to know about. Read more.
A new financial year brings updated thresholds for a range of super measures. Take a look at the new numbers to check for opportunities. Read more.
A new financial year brings updated thresholds for a range of super measures. Take a look at the new numbers to check for opportunities. Read more.
With Super Guarantee (SG) contribution rates changing again, it pays to understand the rules and the rate your employer is required to pay in 2025-26. Read more.
With Super Guarantee (SG) contribution rates changing again, it pays to understand the rules and the rate your employer is required to pay in 2025-26. Read more.
Your total super balance determines whether you can use a range of valuable super measures. Learn how it works and what you could be eligible for. Read more.
Your total super balance determines whether you can use a range of valuable super measures. Learn how it works and what you could be eligible for. Read more.
The transfer balance cap limits the amount you can transfer from your super savings into a tax-free pension. The cap is currently $2m but you may have a different cap… Read more.
The transfer balance cap limits the amount you can transfer from your super savings into a tax-free pension. The cap is currently $2m but you may have a different cap… Read more.
There’s no limit on the amount you can withdraw each year from an account-based super pension, but there are age-based minimum annual withdrawal rates. Here’s how they are calculated. Read more.
There’s no limit on the amount you can withdraw each year from an account-based super pension, but there are age-based minimum annual withdrawal rates. Here’s how they are calculated. Read more.
2023-24 SUPER CONTRIBUTIONS GUIDES
Concessional contributions make up most of the money going into your super account, so it’s important to understand what these are and how they work. Read more.
Concessional contributions make up most of the money going into your super account, so it’s important to understand what these are and how they work. Read more.
Making a personal contribution into your super can be a great way to boost your retirement nest egg and enjoy the tax-effective benefits of the super system. Read more.
Making a personal contribution into your super can be a great way to boost your retirement nest egg and enjoy the tax-effective benefits of the super system. Read more.
AGE PENSION CHANGES
Our Age Pension calculator gives you an estimate of your potential Age Pension entitlements based on your situation, assets and income. Read more.
Our Age Pension calculator gives you an estimate of your potential Age Pension entitlements based on your situation, assets and income. Read more.
This article details the rules and limits of the Age Pension assets test (how much your savings and other assets are worth), which is one half of the means test … Read more.
This article details the rules and limits of the Age Pension assets test (how much your savings and other assets are worth), which is one half of the means test … Read more.
A common question for those nearing or in retirement is “How much can a pensioner earn before it affects the pension?”. Read more
A common question for those nearing or in retirement is “How much can a pensioner earn before it affects the pension?”. Read more
Under the deeming rules, you are ‘deemed’ to earn a certain annual rate of return on your financial assets, regardless of the rate of return you actually earn. Read more.
Under the deeming rules, you are ‘deemed’ to earn a certain annual rate of return on your financial assets, regardless of the rate of return you actually earn. Read more.
Important: All information on SuperGuide is general in nature only and does not take into account your personal objectives, financial situation or needs. You should consider whether any information on SuperGuide is appropriate to you before acting on it. If SuperGuide refers to a financial product you should obtain the relevant product disclosure statement (PDS) or seek personal financial advice before making any investment decisions.