An Important Update for 1 July 2014 if you are Salary Sacrificing

03/07/2014 Blog

Baths

Pre-tax contribution caps increase

The concessional (pre-tax) superannuation contribution caps will increase to $35,000 for those aged 49 and over on 30 June 2014 and $30,000 for everyone else.   Remember these generally include contributions such as employer super guarantee and salary sacrifice contributions where a tax deduction is claimed.

After-tax contribution limits increase

Non-concessional contribution caps increase from an annual limit of $150,000 to an increased limit of $180,000.  These are amounts that are contributed to your super fund in after-tax dollars and where a tax deduction has not been claimed.

NB: If you are Salary Sacrificing into superannuation as part of your pre-retirement planning, please take the time to speak with your JSA Adviser about adjusting your contribution levels to take advantage of these important changes.

 

Jeff Shakespeare & Associates Pty Ltd is a Corporate Authorised Representative of Matrix Planning Solutions Ltd ABN 45 087 470 200 AFSL & ACL No. 238256. Our financial planning advice and services are provided through Matrix Planning Solutions. Any advice contained on this website is of a general nature only and does not take into account your circumstances or needs. You must decide if this information is suitable to your personal situation or seek advice. Prior to investing in any particular product, you should read the Product Disclosure Statement.

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