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From 1 July 2024, the contribution caps are increased to:
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TSB at 30 June 2024
|
Maximum NCC
|
Bring forward period
|
|
<$1,660,000
|
$360,000
|
3 years
|
|
<$1,780,000
|
$240,000
|
2 years
|
|
<$1,900,000
|
$120,000
|
No bring forward
|
|
>$1,900,000
|
Nil
|
Not applicable
|
While we await the finalised legislation on Div 296 – the tax imposed on balances greater than $3m – there has never been a better time to seek advice on your superannuation planning.
If you would like to discuss the best strategy to achieve your family goals with the new contribution caps introduced, please don’t hesitate to contact our team.
The above information is provided as an information service only and, therefore, does not constitute financial product advice and should not be relied upon as financial product advice. None of the information provided takes into account your personal objectives, financial situation or needs. You must determine whether the information is appropriate in terms of your particular circumstances. For financial product advice that takes account of your particular objectives, financial situation or needs, you should consider seeking financial advice from an Australian Financial Services licensee before making a financial decision in relation to any of the matters discussed.
