Bring Forward Contributions

The ability to bring-forward future year entitlements to make non-concessional contributions has been in place for many years now. Prior to 1 July 2020 this could 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 has now been passed to increase the age from 65 to 67 years of age, effective from 1 July 2020.

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Personal Deductible Contributions

To maximize the contributions that can be made to an SMSF, and reduce their personal tax liability, an individual may

SMSFs and the Age Pension

Subject to satisfying eligibility requirements, self-funded retirees may qualify for Centrelink benefits such as the Age Pension or the Commonwealth

How to view your Transfer Balance Cap

From 1 July 2017 a cap was introduced to limit how much can be transferred to a retirement phase pension

Excess Non-Concessional Contributions

The non-concessional contributions cap is $110,000 from 1 July 2021, however the ability to contribute to super is dependent on

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