URGENT: Have you made your Superannuation Contribution for this year?
The end of the financial year is fast approaching and as you would be aware in this year’s Federal Budget the government amended the limits on the contribution caps for next year. The caps currently stand as follows:
Concessional contributions (Tax deductible)
<50 - $50,000
50+ - $100,000
Non Concessional Contributions (No Tax Deduction)
<65 - $150,000
or a 3 year limit of $450,000 65-<75 $150,000
As at the 01/07/2009 the contributions caps will be amended to:
Concessional contributions (Tax deductible)
<50 - $25,000
50+ - $50,000
Non Concessional Contributions (No Tax Deduction)
<65 - $150,000 or a 3 year limit of $450,000
65-<75 $150,000
So if you were intending on taking advantage of the higher (tax deductible) contributions caps, you need to be doing so now before 30th June 2009.
If you need help or further information on how to go about this please contact Kay Terry on (07) 5591 4444 for assistance.
Kind regards
The team at BAMR
