What is an SMSF? A Self-Managed Super Fund (SMSF) does what it says on the tin – you manage your superannuation yourself, instead of delegating the management of your retirement savings to a large institution. In practice, very few people “Self Manage” their retirement savings entirely as they enlist the help of an adviser to […]
Superannuation Changes from 1 July 2019
A number of superannuation changes takes effect from 1 July 2019. What are they and how might this affect you? Read below to find out. Carry-forward concessional contributions The 2018-19 concessional contributions were capped at $25,000. If you didn’t use all $25,000, you are now able to ‘carry-forward’ the unused concessional contribution amount into your […]
What happens if you exceed your super contributions cap?
Making additional payments to your super fund will help you build your retirement savings. There are two types of contributions you can make to a super fund; Concessional or Non-Concessional. The government imposes a cap on each type, limiting how much money you can contribute to your super fund each financial year. So what is […]