Bring Forward Contributions

The ability to bring-forward future year entitlements to make non-concessional contributions has been in place for many years now. Up until 30 June 2021 this can be done by anyone who was under 65 on 1st of July and met the total superannuation balance test and in certain circumstances the work test, all discussed below. Legislation was introduced to increase the age from
65 to 67 years of age, effective from 1 July 2020, however, at the time of writing the legislation is still before the Senate meaning the increase to 67 is unlikely to take effect until the 2021/22 Financial Year.

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SMSF Residency

SMSF’s must be ‘complying’ to ensure they attract the tax concessions they are known for. An SMSF’s complying status relies

Downsizer contributions and SMSFs

Housing affordability has long been an issue in Australia. As part of the 2017 Budget, the government introduced a measure

First Home Super Saver Scheme

The First Home Super Saver Scheme (FHSSS) was introduced by the government to deal with housing affordability and to help

Spouse Contribution Tax Offset

Where a taxpayer has a spouse with a low income or who is not working and under 67, they (the

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