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Changes to the Superannuation Contribution Caps

    Changes to the superannuation contributions caps Changes from 1 July 2017 affect how much you can contribute to your superannuation account without exceeding the contribution caps, as well as the tax payable on certain contributions, and eligibility for some tax benefits. We’d like to help you make the most of your super changes, by helping you understand what is changing and to make sure your retirement savings are still on track. Annual before-tax (concessional) contribution caps Before-tax (Concessional) contributions include contributions that your employer makes on your behalf, salary sacrifice contributions and personal contributions for which you claim a tax deduction. The annual caps which apply to the amount of before-tax (concessional) contributions you can make to super have changed. These include employer contributions, salary sacrifice contributions, and personal contributions for which you claim a tax deduction. From 1 July 2017, this limit is $25,000 for everyone, regardless of age. Carry forward concessional contributions From 1 July 2018, you will be able to carry forward any unused before-tax (concessional) contribution cap amounts, if your total super balance is less than $500,000. Total super balance includes all monies you have in the accumulation and retirement phase of super, less any structured settlement amounts. You must also be under 65 at any time in the financial year in which the contributions are made. Amounts ‘carried forward’ which have not been used after five years will expire. The 2019-20 financial year is the first year you will be able to use any unused concessional contribution cap amounts. Here’s an example of how this carry forward rule works: As at 30... read more

20170721 – Portfolio Activity

Reserve Bank Governor Philip Lowe delivered a decidedly neutral statement when announcing the bank’s decision to leave interest rates at 1.5% this week. Whilst the decision was entirely expected, some had anticipated that the bank may signal a subtle shift towards a tightening bias in due course

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20170707 – Portfolio Activity

Reserve Bank Governor Philip Lowe delivered a decidedly neutral statement when announcing the bank’s decision to leave interest rates at 1.5% this week. Whilst the decision was entirely expected, some had anticipated that the bank may signal a subtle shift towards a tightening bias in due course

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20170630 – Portfolio Activity EOFY

In another volatile week of trading, the ASX200 has fallen more than a 1% after failing to break through 5800 on the upside early in the week. Financials have been in the spotlight as the Senate passed the bank bill levy unchanged and Moody’s downgraded credit ratings of all Australian banks

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20170623 – Portfolio Activity

In another volatile week of trading, the ASX200 has fallen more than a 1% after failing to break through 5800 on the upside early in the week. Financials have been in the spotlight as the Senate passed the bank bill levy unchanged and Moody’s downgraded credit ratings of all Australian banks

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The Budget 2017/2018

In a shortened trading week, the local share market looks like it will finish positively today and close flat for the week after trading lower in the first days after the Easter break. The ASX200 index tested 5,800 on a number of occasions.

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Figuring out Your Retirement Plan

Retirement is a time of huge change — emotional, psychological and financial. On the one hand, it’s a well-deserved opportunity to sit back and enjoy the rewards of your many years of hard work, but unless you’re prepared, it can also create enormous stress and uncertainty.

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