With certain rules applying, you can legitimately make extra contributions this year and take up the tax benefit.
The transfer balance caps for super monies going into pension phase go up from July 1 and so do the amounts for yearly concessional contributions to super.
An exemption to the work test allows recently retired individuals to make contributions without satisfying the work test requirements in the contribution year.
How often do you contemplate what happens if a trustee were to die or lose capacity?
Our limit for concessionally taxed employer and personal deductible contributions has remained at $25,000 since superannuation reforms kicked in three years ago..
As the outcomes for a fund, its members and their beneficiaries differ, advance planning for how these withdrawals are treated is essential.