Securing Your Future: Leverage New Superannuation Contribution Caps with our Financial Planning specialists.

Our Financial Planning Team are passionate about our client’s future security and prosperity – this is at the heart of what we do. It’s with great excitement that we share these recent changes, which present a golden opportunity to enhance your retirement savings strategy. Let’s explore what’s new and how our team can help you capitalise on these developments.

What’s Changing?

The government has adjusted the superannuation contribution caps, creating avenues for you to potentially increase your retirement savings:

  1. Concessional Contributions Cap Increase

The cap has risen from $27,500 to $30,000. These contributions, made before tax, not only help in reducing your taxable income but also boost your retirement savings significantly.

  • Non-Concessional Contributions Cap Uplift

The cap has increased from $110,000 to $120,000, with the three-year bring forward limit going up to $360,000 from $330,000. This adjustment allows for a more substantial infusion of personal savings into your super, fostering a more robust growth of your retirement fund.

How our specialists can help

Understanding these changes and how they apply to your personal financial situation can be complex. That’s where our Financial Planning Team comes in. We’re not just advisers; we’re your partners in crafting a future that’s as prosperous as it is secure. Here’s how we can make a difference:

  • Personalised Strategy: Our team takes the time to understand your unique financial situation, life goals, and retirement aspirations. This personalised approach ensures that any adjustments to your super contributions are not just strategic but perfectly aligned with your long-term objectives.
  • Expert Navigation: The landscape of superannuation is ever-changing. With our Financial Planning Team, you have a navigator who’s not only well-versed in the latest legislative changes but is also skilled in leveraging these for your benefit.
  • Proactive Planning: We don’t just react to changes; we anticipate them. Our proactive planning approach means we’re always looking ahead, ensuring your financial strategy remains robust, flexible, and primed for growth.

How to Make the Most of the New Contribution Caps

  1. Get in touch with us: The first step is to book a meeting with one of our Financial Advisers.  Together, we’ll review your current financial status and discuss how the new caps can be integrated into your strategy for maximum advantage.
  2. Tailored Advice: Based on your financial goals and the new contribution caps, we’ll then offer tailored advice designed to optimise your super contributions in the most tax-effective way.
  3. Ongoing Support: As your financial journey progresses, we remain by your side, ready to adjust your plan as needed to keep your retirement goals on track.

Our team is eager to help you explore these new opportunities for your superannuation contributions. Understanding and utilising the new caps is a crucial step toward securing a more comfortable and prosperous retirement.

Take the Next Step Towards a Brighter Future

Let our Financial Planning Team ensure that your superannuation works harder for you, leading the way to a future filled with financial security and peace of mind. GET IN TOUCH TODAY
T: 03 5990 1000

If you want to delve a little deeper, visit the SMSF Association website here.  

Article written by Calvin McLeod, Senior Financial Adviser, Highview Accounting & Financial
Authorised Representative No.1270067 of Highview Wealth Solutions (Aust) Pty Ltd AFSL No.546561. Highview Wealth Solutions (Aust) Pty Ltd ABN: 22 665 047 530 T/AS Highview Accounting & Financial.

FINANCIAL PLANNING DISCLAIMER: Highview Wealth Solutions Pty Ltd ABN 96 135 996 842 T/AS Highview Accounting & Financial (Corporate Authorised Representative No. 337009), Silvio Marinelli (Authorised Representative No. 457162), Bruce Chisholm (Authorised Representative No. 1235025), D’Avery Pillay (Authorised Representative No. 469915), Richard Vaughan (Authorised Representative No. 358609) of Highview Wealth Solutions (Aust) Pty Ltd ABN 22 665 047 530 T/AS Highview Accounting & Financial AFSL No. 546561.