Contributions calculator

An important consideration when making a superannuation contribution or when a contribution is made on behalf of a member, e.g., employer contribution, is the contribution cap consequences. Exceeding a contribution cap can lead to additional tax. So, it’s crucial to know which cap applies and how much cap space is available.  Whilst there are still…

Treasury confirms super boost for those approaching 75

Treasury has confirmed that the proposed increase to the cut-off age from 67 to 75 for the bring forward rule for non-concession contributions will allow individuals approaching 75 years of age to bring forward non-concessional contributions from future years (i.e. during which they will be aged 75 years or over). This is contrary to the initial intent of the proposed change and provides an opportunity for those approaching 75 to boost their retirement savings.