News : Contributions

Mortgage debt shouldn’t sacrifice contributions

June 17, 2024

Concessional contributions Mortgage GSFM

Paying off a mortgage should not be seen as a reason for not making additional concessional contributions towards superannuation.

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Contributions, Pensions

Final day of financial year noteworthy

30 June Contributions Minimum pension payments

May 20, 2024

Todd Wills

Trustees need to consider the implications of having 30 June 2024 fall on a Sunday with regard to contributions and pension obligations.

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Contributions, Superannuation

Second splitting request not permitted

Concessional contribution Contribution splitting Superannuation BT Financial Group

March 8, 2024

Todd Wills

SMSF members only have one opportunity to make an application to split a concessional contribution with a spouse in a given financial year.

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Compliance & Regulation, Contributions

Contributions caps set to rise

AWOTE Contribution caps Non-concessional contributions Concessional contributions Total superannuation balances

February 26, 2024

Jason Spits

Contribution caps will increase from the start of the new financial year, but other related thresholds will see a small decrease, creating potential traps for superannuants.

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Contributions, SMSF, Superannuation

No TBC indexation in 2024

general transfer balance cap indexation superannuation Craig Day Colonial First State

February 9, 2024

Jason Spits

The general transfer balance cap will stay at the current level for the next financial year, but contribution cap changes will add confusion to bring-forward thresholds.

Acceptance rules the contribution priority

superannuation contributions acceptance rules

August 25, 2023

Todd Wills

Before advising clients on superannuation contributions, SMSF practitioners should first consider the acceptance rules trustees are bound by.

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Contributions, Superannuation

Prime time for concessional contributions

August 25, 2023

Todd Wills

Trustees contemplating increasing their concessional contributions to their superannuation funds should take action within this fiscal year.

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Contributions, Superannuation, Tax

$3m cap shouldn’t stop inflows

July 28, 2023

Todd Wills

Trustees should continue to contribute to their superannuation accounts as not doing so would not be a prudent strategy to adjust to the proposed super earnings tax.