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.


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!

BISCosgrove Tax Saving Strategies