Life, Death and Taxes – Insights by Mr Henshaw

SPECIAL CONTRIBUTIONS TO SUPERANNUATION: ATO U-TURN: EXTREME CAUTION REQUIRED

From 1 July 2017, drastic changes to superannuation take effect. Under those changes, the amount of money that a person can put into super (i.e. contribute) will be dramatically reduced. In particular:

  •  ‘Concessional contributions’ (i.e. tax deductible contributions) will be reduced to $25,000 per annum.
  • ‘Non-concessional contributions’ (i.e. non-tax deductible contributions) will be reduced to $100,000 per annum (and reduced to $300,000 under the bring forward rule).
  • Members with over $1.6m in super cannot make ANY non-concessional contributions.
READ MORE

Level 12, 360 Elizabeth Street,
Melbourne VIC 3000

Level 2, 580 George Street,
Sydney NSW 2000

Level 12, 360 Elizabeth Street,
Melbourne VIC 3000

Level 2, 580 George Street,
Sydney NSW 2000

Liability limited by a scheme approved under professional standards legislation.