A super opportunity
May 22, 2018By Gary Skelton, Kothes Director & Self-Managed Super Fund Specialist
While the contribution limits for super have gone down this year, there are still opportunities to take advantage of the generous tax environment super offers.
Make the most of your before-tax contributions
Concessional contributions are contributions you can make to super with your before-tax salary. For most people
concessional contributions are taxed at just 15 per cent — not your marginal tax rate. That’s a big tax cut and puts your money to work — in your super account.
This financial year, you’re allowed to contribute, or ‘salary sacrifice’, $25,000 of concessional contributions. Remember — your employer’s 9.5 per cent compulsory contributions count towards your concessional contributions.
And, from 1 July 2018 new rules let people with total super balances under $500,000*, ‘carry forward’ up to five years of the unused portion of their concessional contributions cap.
How do you get started?
Whether you’d like to make a one-off contribution or set up an ongoing arrangement, speak to someone in the Kothes financial planning division and contact your employer’s payroll department.
Take the next step
Kothes has an established alliance with Bridges, to provide our customers with financial advice. Bridges has been helping Australians with financial advice for 30 years.
Our financial planning team will develop a plan specifically for you; one that’s tailored to your needs and circumstances to help you achieve your goals.
- To make an appointment call Kothes Financial Planners on 6491 6421. The initial consultation is complimentary and obligation free.