EOFY Super Contribution
6th June 2018
Tax-deductible contributions
You may be eligible to claim a tax deduction for your personal super contributions. By doing this, you may be able to pay less tax while saving more for your future. The current before-tax contributions cap is $25,000 per financial year and includes employer SG and salary sacrifice contributions. Any contributions made above these limits will attract additional tax
Lump sum contribution
After-tax super contributions are made from money you have already paid income tax on and won’t be claiming a tax deduction on. Investment earnings inside super accumulation are taxed at up to 15%, compared to your marginal tax rate which applies to investments held outside of super. The annual limit for after-tax contributions is currently $100,000 if your total superannuation balance is below $1.6 million at the start of the financial year. In certain circumstances, you may be able to bring forward three years of after-tax contributions into one year, contributing up to $300,000.
Testimonials
"We have been with Momentum Financial Planning for over 8 years now and have always received quality financial advice. The guys are easy to talk to and make even the most..."
Greg & Ann, Coffs Harbour
