Labor has foreshadowed significant amendments to a wide range of financial policies, and while the new PM has time to make up lost ground, Labor is favourite to win the next federal election.
Tag Archives | personal super contributions
A couple can benefit if the person running against the $1.6 million cap on super pension balances contributes to the spouse’s super. It’s worth checking the eligibility requirements and tax offsets.
Many people are overlooking the rule that allows anyone eligible to make a super contribution to claim it as a personal tax deduction, but make sure you follow the rules and meet the deadline.
Super contribution changes that took effect on 1 July 2017 and other changes coming in from 1 July 2018 aren’t all negative, leaving opportunities over the next few months to make the necessary adjustments.
The deductibility of personal contributions due from 1 July is a bigger opportunity than most people realise, given many employees were not allowed to salary sacrifice, and some employers abused it.
A positive development from recent super changes is the lifting of current restrictions on claiming tax deductions for personal super contributions and a flexible carry-forward rule.