Personal Superannuation Contributions – 10% rule repealed

April 2018 With the end of the financial year fast approaching, it is the perfect time to start thinking about your income tax deductions. Under the new Government changes to super, effective 1 July 2017, the 10% maximum earnings condition for personal superannuation contributions was removed for the 2017-18 and future financial years. This rule…

Monitoring your $1.6 million transfer balance cap

November 2017 This document contains complex SMSF technical information and is aimed at individuals who have a comprehensive understanding of transfer balance caps. We highly recommend that you gain the advice of an SMSF Specialist in order to assist you in monitoring the transfer balance cap within your fund. To find your nearest SMSF Specialist,…

Contributing the proceeds of your house sale to super – New downsizing rules

October 2017 The 2017 Federal Budget contained a downsizing measure that would allow individuals aged 65 or over to make a non-concessional contribution of up to $300,000 from the proceeds of selling their home.   By reducing the barriers to downsizing, the Government is encouraging those who meet these requirements to downsize from homes that…

I’m over 65 years of age can I still contribute to my super fund?

If you are 65 years of age or older, you can still contribute to your super, however, there are conditions that must be met and limits to how much you can contribute. We’ll walk you through the conditions that must be met and limits below. Concessional Contributions are before tax contributions.  They include employer contributions,…

The tips for rolling over to a self managed super fund

June 2016 You may wish to roll-over (transfer) the money you have in superannuation to another fund. For example, you may have just established a self-managed superannuation fund (SMSF) with the aim of commencing an income stream or for investment purposes, retirement and you would like to move all of your super benefits to that…