Feb 15, 2018 | Blog, Contributing to Super, Featured, Superannuation
So, how do the catch-up provisions for unused Concessional Contributions work? And how can these unused Concessional Contributions be carried-forward? This article will explain the conditions that need to be met so that an individual can utilise the Concessional...
Feb 27, 2017 | Blog, Featured, Retirement Income Streams, Superannuation, Superannuation Tax
Excess transfer balance tax relates to the tax imposed on notional earnings resulting from an amount in excess of the Transfer Balance Cap being used to commence an income stream. Based on new superannuation rules and changes from 1 July 2017, the maximum amount that...
Feb 22, 2017 | Accessing Superannuation, Blog, Featured, Retirement Income Streams, Superannuation, Superannuation Tax
Are you wondering how the Transfer Balance Cap applies to your defined benefit pension and defined benefits payments in excess of the cap are taxed? Read on. With an account based pension, a maximum of $1.6 Million can be used to commence the pension (indexed in line...
Feb 20, 2017 | Blog, Featured, Retirement Income Streams, Superannuation
What portion of a transition to retirement (TTR) Pension or transition to retirement income stream (TRIS) counts towards the Transfer Balance Cap? A TTR Pension is a pension commenced by an individual between their superannuation Preservation Age and age 65 while they...
Feb 17, 2017 | Accessing Superannuation, Blog, Featured, Retirement Income Streams, Reversionary Pensions, Superannuation, Superannuation Tax
The superannuation transfer balance cap of $1.6 million is a new measure set to be introduced from 1 July 2017. This is a further shift towards reducing the tax-effectiveness of the superannuation environment for high-net worth individuals. So, how does the $1.6...
Feb 12, 2017 | Blog, Contributing to Super, Featured, Superannuation, Superannuation Tax
The excess Concessional Contribution Charge (ECCC) is an additional tax payable by an individual resulting from the fact that they will be paying income tax later than when it would have been ordinarily due. Let’s rewind. When a person earns income, they are...
Jan 25, 2017 | Blog, Contributing to Super, Featured, Superannuation
The maximum superannuation Concessional (deductible) Contribution cap has been reducing quite steadily over the years. In the 2016/2017 financial year, the Concessional Contribution cap is $35,000 for individuals aged 49 years or over and $30,000 for those under age...
Jan 23, 2017 | Blog, Contributing to Super, Featured, Superannuation
As of 1 July 2017, there is a significant reduction in the Non-Concessional Contribution cap compared to previous years. The reduction in the Non-Concessional Contribution cap is another measure aimed at reducing the effective tax concessions available for wealthier...
Jan 19, 2017 | Blog, Contributing to Super, Featured, Superannuation
The recent and significant changes to the superannuation Non Concessional Contribution cap from 1 July 2017 has largely impacted the ‘Bring Forward Rule’ if the Bring Forward Rule was triggered prior to 1 July 2017; specifically in the 2015/16 or 2016/17...
Jan 16, 2017 | Blog, Contributing to Super, Featured, Retirement Income Streams, Superannuation, Superannuation Tax
This article provides an overview to the new superannuation rules and changes that have been passed as part of the 2016 Federal Budget. These changes are quite significant and will affect almost all Australians in some way or another. The largest changes are around...
