When you mention super, most people shake their head and mutter about the constant rule changes. Looking back over the past few years it’s a fair comment, with many significant changes occurring – and many more proposed but never legislated. If you are wondering how those changes have affected your super and ... Read more
Superannuation contributions strategies
In this section you can learn about super contributions strategies you can consider in order to boost your super balance.
Learn about the most common super contributions in the following SuperGuide articles:
Set out below are all SuperGuide articles that relate to Superannuation contributions strategies.
SMSF housekeeping: Trustee checklist for 2019/2020
The past few years have seen SMSF trustees kept busy implementing numerous legislative modifications to the super system, plus the major reform package commencing on 1 July 2017. Unfortunately, this financial year seems unlikely to be any different. With the new Morrison Government announcing plans for yet another ... Read more
Super housekeeping: 10 tips for the end of financial year
With only a few weeks remaining before the end of the 2018/2019 financial year, it’s time to ensure you have your super affairs in order and all your paperwork is ready for the big day when you lodge your income tax return. To help ensure you have maximised the tax benefits available within the super system, here’s ... Read more
What is included in my Total Superannuation Balance, and when does it apply?
The concept of total superannuation balance, or TSB, was introduced on 1 July 2017 as part of the Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016 as a means to measure your total superannuation interests at any point in time. It is used to determine eligibility for a number of new superannuation ... Read more
Super’s rulebook: What rules apply to you at different ages?
Australia’s super system has lots of rules – many of which have significant penalties if you breach them – but not every rule applies to everybody at every age. There are different rules at different ages on how much and when you can contribute to super, when you can get your hands on your savings, and how much tax ... Read more
Quiz: Boosting your super with super contributions
Take the following 10 question quiz to test your knowledge on boosting your super with superannuation contributions. Don't worry if you don’t know the answer to a question. Have a go anyway and we’ll let you know the correct answer, as well as providing you with a link to a relevant article. Note: When you pick an ... Read more
What super contributions are best for me?
Working out how best to grow your super nest egg can be confusing and selecting the right mix of concessional (before-tax) and non-concessional (after-tax) contributions makes it even tougher. Whether you make small contributions over time, add a large lump sum, or use the potential tax advantages of contributing ... Read more
Superannuation Guarantee rules for employers
The Superannuation Guarantee (SG) is the official term for compulsory super contributions made by Australian employers on behalf of any full-time, part-time or casual employees who: earn more than $450 before tax in a calendar month, work in Australia (including temporary residents and working holiday makers), and are ... Read more
Guide to tax-deductible superannuation contributions
Tax-deductible super contributions are an option that more Australians can now consider due to recent legislative changes. However, it can be a complex area, so with tax-time looming, it’s a topic worth reviewing. Firstly, it’s important to understand that you cannot claim a tax deduction for any super contributions ... Read more
2018/2019 guide to concessional contributions (before-tax super contributions)
Although it can be hard getting your head around all the different types of super contributions that go into your super account, concessional contributions are the ones you are mostly likely to have and are pretty straightforward to understand. Concessional contributions – what’s that mean? Concessional contributions ... Read more
Which Australian super funds accept transfers from Kiwisaver accounts?
If you have KiwiSaver savings, you can voluntarily transfer them to an Australian super fund under the provisions of a Trans-Tasman Retirement Savings Portability scheme that was introduced on July 1, 2013. Consolidating your funds in this way can help you to avoid paying multiple fees on your retirement savings. ... Read more
What is the maximum super contribution base for 2018/2019?
The Superannuation Guarantee (SG) is the name for the contribution your employer makes to your super fund on your behalf. The current SG contribution rate is 9.5% of your earnings up to a limit called the maximum super contribution base (MSCB). If you earn above that limit in a particular quarter, your employer is not ... Read more
Key superannuation rates and thresholds (2018/2019 year)
There are a range of key rates and thresholds that can affect your super, including: Concessional contributions cap Non-concessional contributions cap Division 293 tax Superannuation guarantee (SG) Superannuation co-contributions Tax offset for super contributions on behalf of your spouse Low-income ... Read more
A super guide to understanding the bring-forward rule
Putting money into your super account is easy. But to ensure you don’t take too much advantage of the generous tax benefits within the super system, the government has progressively tightened up the rules around making contributions. One way to get some extra money into your super account is by using a ‘bring-forward’ ... Read more
Salary sacrifice and super: How does it work?
While the sacrificing bit might sound painful, salary sacrifice is really just about giving up something now to get a financial benefit later on. Often called salary packaging, many employees choose to set up these types of arrangements with their employer to forgo part of their salary or wages to help pay for a range ... Read more