Concessional Contribution Opportunities
For most Australians, superannuation remains one of the best wealth accumulation structures from a tax perspective. On top of the income tax benefits available on contributions, superannuation in the accumulation phase pays maximum tax of 15% on investment income and no tax when a super fund is paying a retirement pension to its members.
A number of changes are being made to superannuation from 1 July 2017 that will impact how people can take advantage of the tax concessions available. These include :
- Concessional contribution caps
- Salary sacrifice arrangements
- Tax deductibility for personal contributions
- Additional tax on contributions for high income earners.
Please click on the above link for more information.