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Super concessional contribution caps 2014
Non-concessional contributions include personal contributions you make to super from a variety of sources including your savings, an inheritance and amounts transferred from a foreign super fund that do not count towards your Australian funds assessable income.
As we approach the photo resizer mac review new financial year, it is timely to consider the contributions that you can make to super in the year ahead as changes to contribution limits will take effect for the financial year.Higher caps of 35,000 apply to older Australians aged 49 years or over on If you exceed your concessional contributions cap the excess contributions are included in your taxable income.You will receive a non-refundable tax offset equal to the 15 tax paid pdf xchange viewer 32 bit by your fund on this amount.A Concessional Contribution is a contribution made to superannuation where a tax deduction has been claimed.Over 65 but under 70, over 70 but under 75 75 and over, sG and contributions made under an award.Non-concessional contributions, non-concessional (after-tax) contributions are personal super contributions which you or your spouse makes for you with after-tax income.For the 2014-15 financial year, the concessional contribution caps will increase to 35,000 for those aged 50 or over.Concessional, contribution Limit 2013/14 2014/15, under 50 25,000 30,000 50 to 74 years 25,000 35,000, non-concessional, contribution Limit.What is a Concessional Contribution?
Examples of Concessional Contributions include: Certain concessional contributions will need to be included as reportable employer contributions when calculating your eligibility to things such as the.Previously the 35,000 cap applied only to those aged 59 or over. .Please click here for information on the Maximum Superannuation Contributions Base (.The non-concessional contribution cap for 2014/2015 is 180,000 per year.Yes, yes, archos 80 g9 manual yes, yes, yes, all other employer contributions eg salary sacrifice and employer ETPs.These are summarised in the table below: Contribution type, under 18, under.Contribution age limits, there are aged based restrictions on contributions to super which can impact on how individuals can contribute to their superannuation. .They are taxed as they enter the fund. .