End-of-year super strategies

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End-of-year super strategies

By admin | Uncategorized | Comments are Closed | 23 June, 2016 | 0

With the end-of-financial year looming, there are some key strategies you can utilise to maximise your nest egg ahead of 30 June. Maximise super contributionsReview your contribution types and amounts to ensure you have maximised (not exceeded) your contribution caps for the financial year. The non-concessional contributions cap for 2015/16 is $180,000 or $540,000 over three years for those under 65 at 1 July 2015. From 1 July 2017, a $500,000 lifetime non-concessional contributions cap is proposed to take effect. The concessional contributions cap is currently at $30,000 and $35,000 for those aged 49 or over at 30 June 2015. The lifetime CGT cap is $1,395,000. Split contributions with your spouseYou can split up to 85 per cent of your 2015 concessional contributions with your spouse providing they are not over 65 years or have reached their preservation age and..

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