Top up Concessional Contributions to Super

Did you know the 2018 financial year has a new TAX DEDUCTION?! This is the first there are NO RULES to stop you from claiming a tax deduction on the difference between $25,000 and the amount your employer has contributed to your super as part of the Superannuation Guarantee Levy.  The employer SGL is usually about 10% of your salary or wages.

Example

For instance lets say your salary or wages per annum is $100,000. Then the SGL paid by your employer should be about $10,000. This allows you to contribute a further $15,000 to your Super Fund and claim an extra tax deduction in the 2018 tax return. In this example an extra concessional contribution should lead to approximately a further $5,000 refund or less payable. Mean while an extra $12,750 (after tax) will be working for your retirement in Super!

For the fine print and so much more be sure to contact Darin, Justin, Renee or Brian!