Upcoming changes to Super contributions
Super Contributions – Know Your Limits!
It’s important to understand how the changes to super contributions limits may affect you for this year and the next. Some of these changes include:
- A reduction in the amount of concessional contributions that you are able to make. Are you salary sacrificing into super? It’s important that you review this arrangement to make sure you don’t exceed the new limit
- The potential to claim a tax deduction for personal super contributions without needing to satisfy the 10% rule. Big thumbs up!
- A reduction in the non concessional (after tax) contribution limit
Be aware of other changes
Changes are also being made to the following areas of super. Make sure you know which changes affect you and how.