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
Every new super rule change explained: Payday Super, higher contribution caps, the transfer balance cap and Division 296 tax. Read more.
Every new super rule change explained: Payday Super, higher contribution caps, the transfer balance cap and Division 296 tax. 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.
Most people don’t look closely at their Superannuation Guarantee contributions – but it pays to know the current rate and how it’s worked out. Read more.
Most people don’t look closely at their Superannuation Guarantee contributions – but it pays to know the current rate and how it’s worked out. 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 of your super savings you can invest in a tax-free pension for retirement. Read more.
The transfer balance cap limits the amount of your super savings you can invest in a tax-free pension for retirement. Read more.
Age-based minimum annual withdrawal rates apply to account-based pensions. Here’s how they are calculated. Read more.
Age-based minimum annual withdrawal rates apply to account-based pensions. Here’s how they are calculated. Read more.
2023-24 SUPER CONTRIBUTIONS GUIDES
Want to get more from your super? Start by understanding concessional contributions, the biggest and most tax-effective source of super savings. Read more.
Want to get more from your super? Start by understanding concessional contributions, the biggest and most tax-effective source of super savings. Read more.
Making a personal contribution into your super can be a great way to boost your retirement nest egg and enjoy the 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 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
Current deeming rates and thresholds for the Age Pension income test. See exactly how your assets are assessed. Read more.
Current deeming rates and thresholds for the Age Pension income test. See exactly how your assets are assessed. 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.
