Recontribution strategy case study: How superannuation tax components impact estate planning
By withdrawing and recontributing some of your super, you may be able to reduce the amount of tax paid by your beneficiaries. Here’s how it works.
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By withdrawing and recontributing some of your super, you may be able to reduce the amount of tax paid by your beneficiaries. Here’s how it works.
Q: I have maxed out my non-concessional contributions ($330,000) in July 2023. When is the earliest I can make new non-concessional contributions?
With contribution caps set to increase on 1 July, people need to weigh up their options before making additional super contributions before and/or after June 30.
Using the bring-forward rule is a great way to put a larger contribution into your super account in a single year. Here’s what you need to know about the rules.
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.
If your super balance is underwhelming, even small personal contributions can supercharge your retirement savings once compound interest and tax do the heavy lifting.
Growing your retirement savings needs the right mix of super contributions. Here’s some guidelines and case studies to help you think about what’s right for you.
If you haven’t used all your concessional contributions cap in recent years you can use them to play catch-up and get a handy tax concession to sweeten the deal. We explain how.
Salary sacrifice can be a convenient and simple way to boost your super and reduce your tax bill at the same time. Learn how to get it right and the alternative to consider.
Couples who plan together succeed together. Learn how paying attention to your spouse’s super could maximise your opportunities.
Did you know you can earn super contributions in return for your everyday spending? We tried out Super Rewards – a service that does just that.
If you are looking for ways to save a bigger first home deposit, changes on the horizon promise to remove hurdles to the FHSSS and make the scheme simpler to use.
If you’ve made a capital gain this year, the tax office is knocking at the door. A personal tax-deductible super contribution could keep them at bay.
Watch our video demonstration of ASIC’s MoneySmart Superannuation calculator to see how it can help you predict your final balance and compare super funds.
The Moneysmart Super contributions optimiser will help you get the most out of your super contributions, maximising tax savings and government contributions. Our video tutorial walks you through how to use this valuable tool and understand the results, so you can supercharge your savings.
Q: The bring forward concessional contributions tax claims. Are they still available and any other matters associated with such a tax claim?
What these rules allow us to do is to split, so to take up to 85% of the concessional contributions that were made into our own super fund account last year and then split them or allocate them to our spouse’s super account in either our fund or any other fund in the current year.
A free co-contribution payment made by the government into your super account can be a great way to boost your super account if you have some money to spare.
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