Making a tax-deductible super contribution can be a great way to boost your retirement savings. Find out whether they could be the right strategy for you.
making super contributions
The rules for making super contributions after age 67 have been relaxed substantially, but you must still meet a work test for one type of contribution.
It can be confusing to understand all the different types of super contributions. But it’s worth learning the main types and what each one offers you.
With Super Guarantee (SG) contribution rates changing again, it pays to understand the rules and the rate your employer is required to pay in 2022-23.
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.
The Low Income Super Tax Offset (LISTO) is a government rebate that can help boost your super account and make saving for retirement a little easier.
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.
Once you retire super contributions get trickier, but not impossible. So it’s worth learning which contributions remain available to you.
Getting money into super in the final dash to retirement is not always straightforward, so check you’re eligible before making any last minute contributions.
By using a contributions reserving strategy, SMSFs can potentially double their annual contributions caps in a single year
Reaching your Total Super Balance limit creates problems if you want to continue building your wealth, but there are some strategies you can consider.
Going over your annual limits for super contributions can cause problems and cost you money, so it’s important to know what to do if you have.
From 1 July, the annual amount you can contribute to super will rise. If you are planning to make a large non-concessional contribution, it pays to think about timing.
Today Josh Frydenberg announced incentives for older Australians to contribute more to super, but these are a little disingenuous of the Liberals.