Does it make sense to make additional concessional contributions to superannuation if you still have non-deductible debt such as a home loan?
superannuation contributions
First Home Super Saver Scheme – Overview
Under the First Home Super Saver Scheme (FHSS Scheme), eligible super members who make voluntary superannuation contributions can subsequently withdraw those contributions (and associated earnings) from the super system in order to acquire their first home.
Family trusts more important than ever
Family trusts are increasingly being used for retirement planning purposes since the Government introduced more measures to limit the ability to make both concessional and non-concessional contributions to superannuation funds.
Issues to consider with $600k Downsizer strategy
From 1 July 2018, the Federal Government is allowing ‘Downsizer contributions’ of up to $300,000 per individual who sells their family home after age 65.
Downsizing the home to get more super
As part of the May 2017 budget changes, people over 65 will be able to make an additional contribution to super provided they sell their house to do it.
High-time to boost contributions
The higher concessional cap allowance now for those aged 60 or over (as at 30 June 2014) means that it is an ideal time to start thinking and acting to optimise savings’ plans, a leading wealth manager says. For the ‘over-60s’, the limit has risen from $25,000 to $35,000 this year and ‘this is a […]