For the 2022-2023 year the concessional cap will remain at $27,500. Concessional contributions include employer contributions and personal contributions claimed as a tax deduction.

If your superannuation balance is less than $500,000, you may be entitled to contribute more than the general concessional contributions cap. If you require more information, follow the link or contact us.

Self-Managed Superannuation Funds (SMSFs) were only able to have up to four members. However, from 1 July 2021, the maximum permitted number of members increased to six. This will provide more opportunities for families to pool wealth in a single fund.

If you are considering setting up a SMSF or expanding, please contact our office.