- Contribution cap – $25,000 per year for people over age of 50
- Beware of excess contribution tax
- Do not contribute more than personal taxable income – you cannot make a taxable loss by contributing to super
- If you are over 65 years of age, you need to satisfy the work test to be able to contribute to super
- Split super contribution with spouse who has lower super balance
How can we help?
We can assist you with a review of your current tax situation to ensure that your income and tax circumstances continue to meet the needs of your changing circumstances and life-stages, and where appropriate we can advise on whether you should be considering insurance or tax effective investments as part of your investment & super strategy.
Please contact us to obtain the notes of the seminar “How to save tax with super?” presented by Theresa Griffin.