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Superannuation2018-07-13T13:40:37+10:00

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Superannuation

Federal Budget 2019: Superannuation

Federal Budget 2019: Superannuation Federal Budget 2019 Initiatives: Superannuation Changes to voluntary super contributions Increasing age limit for spouse contributions Extended access to bring-forward non-concessional contributions Changes to Voluntary Super Contributions Currently, people aged 65 to 74 can only make voluntary superannuation contributions if they meet the work test which requires working a minimum of 40 hours over a 30 day period in the relevant financial year. Increasing Age Limit for Spouse Contributions Currently those aged 70 and over, cannot receive spouse contributions. It is proposed that an increase in the age limit for spouse contributions to 74 will give older Australians greater flexibility to save for retirement. Extended Access to Bring-Forward Non-concessional Contributions Australians aged 65 and 66 will also now be able to make up to three years of non-concessional contributions to super under the exiting bring-forward rule.

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Financial Planning and Credit services are offered through Modoras Pty Ltd ABN 86 068 034 908. Australian Financial Services and Credit Licence No. 233209.
Accounting services are offered through Modoras Accounting (QLD) Pty Ltd ABN 81 601 145 215, Modoras Accounting (VIC) Pty Ltd ACN 145 368 850 and Modoras Accounting (SYD) Pty Ltd ABN 18 622 475 521

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