Salary Sacrificing? Important Message

Salary Sacrificing? Important Message

12:04 10 July in SMSF

We would like to remind all clients that from the 1st of July 2017, the concessional contributions cap has been lowered to $25,000 for everyone regardless of age.

As this is a significant decrease, it is possible that your current salary sacrifice arrangements with your employer may take you over the concessional cap in the upcoming financial year, exposing you to additional tax.  So that you don’t inadvertently pay more tax, please review your salary sacrifice arrangement and make any required adjustments.

“My Portfolio” in Super Gateway gives you a running tally of your contributions (and historical tallies) for better planning, so we would encourage you to log in and get familiar with “My Portfolio”.  If you have lost your password, you can always reset it by clicking on the forgotten password link. You may need to look in last years contributions if your first concessional contribution has not reached your account as yet.

We are more than happy to discuss any questions that you may have regarding this important message, so please do not hesitate to call, email or book a meeting.