How familiar are you with the superannuation contributions rules? Do you know how much your employer should be contributing, and whether your employer’s contributions affect the amount that you can personally contribute? Did you know you can make two types of super contributions?Are there limits on how much you can ... Read more
A quick guide: Superannuation rates and thresholds
For a list of the main superannuation, Age Pension and retirement-related rates and thresholds, and how often they are indexed, and links to further information, continue reading this article. (For a summary list of the latest superannuation rates and thresholds, check out Superannuation rates and thresholds for ... Read more
Super for beginners: Top 10 must-know facts
Just over nine years ago, in January 2009, we launched the SuperGuide website, and in March 2009 we published the first monthly SuperGuide newsletter. Since that time we have received thousands of questions, from our millions of visitors, on different aspects of superannuation. We try to represent as many questions as ... Read more
Super opportunity: Catch-up concessional contributions from July 2018
Any Australian considering making super contributions since 1 July 2017 needs to be mindful that the annual concessional (before-tax) contributions cap is much lower than previous financial years. Since July 2017, the annual concessional contributions cap has dropped to $25,000, which is a lot lower than concessional ... Read more
New $100,000 cap: Cut to non-concessional contributions cap
The annual $100,000 non-concessional contributions cap and the maximum $300,000 bring-forward cap, which took effect from 1 July 2017, became law on 29 November 2016 (passed both houses of parliament on 23 November 2016, and received royal assent on 29 November 2016).Background: On 15 September 2016, Treasurer ... Read more
Bring-forward rule: A definitive super guide
Note: The important facts in this article relate to the 2017/2018 financial year (and also refer to the rules applicable for the 2016/2017 financial year).Since 1 July 2017, a lower annual non-concessional (after-tax) contributions cap of $100,000 applies, and this change flows through to a lower 3-year ... Read more
Non-concessional contributions: 10 facts about new $100,000 cap
The annual $100,000 non-concessional (after-tax) contributions cap became law on 29 November 2016, and took effect from 1 July 2017 (from the start of the 2017/2018 year).Background: On 15 September 2016, Treasurer Scott Morrison and Minister for Revenue and Financial Services Kelly Dwyer, issued a joint media ... Read more
Superannuation checklist: What rules apply for the 2017/2018 year?
Although the Coalition government has made significant amendments to Australia’s superannuation rules, many of the super policies did not change from July 2017 (see list later in article).For your convenience, we have split the 2017/2018 year superannuation checklist into 2 categories of super rules. The first ... Read more
Super contributions: Bring-forward rule and your Total Superannuation Balance
Since 1 July 2017, your Total Superannuation Balance can affect how much you can contribute to a super fund. If your Total Superannuation Balance is $1.6 million or more (for the 2017/2018 year), then you cannot make any non-concessional (after-tax) contributions – your NCC cap is nil, and the bring-forward rule is not ... Read more
Understanding the transitional bring-forward rule (for 2017/2018 and 2018/2019 years)
Q: What cap applies for the 2017/2018 year, if I triggered the bring-forward rules during the 2016/2017 or 2015/2016 years?If you triggered a bring forward during the 2015/2016 year, or the 2016/2017 year, and you didn’t fully utilise the bring forward by 30 June 2017, then you need to be aware of the transitional ... Read more
Super concessional (before-tax) contributions: 2017/2018 survival guide
Note: This article explains the rules applicable to concessional contributions for the 2017/2018 year (and later in the article, also explains the rules applicable for the 2016/2017 year, and earlier financial years). See also SuperGuide article Concessional contributions caps slashed since July 2017.Superannuation ... Read more
Your 2017/2018 guide to non-concessional (after-tax) contributions
Note: This article explains the rules applicable to non-concessional contributions for the 2017/2018 year (and later in the article explains the rules applicable for the 2016/2017 year and earlier years). See also SuperGuide article New $100,000 cap: Cut to non-concessional contributions cap.Taking effect since 1 ... Read more
