Boost your Nest Egg: Super contribution caps are increasing from 1 July 2024
Good news for people who want to contribute more into their super.
Here’s a quick breakdown of the changes taking place from 1 July 2024:
- Concessional contributions (CC) cap: This increases from $27,500 to $30,000 per year. This includes employer contributions and salary sacrifice contributions.
- Non-concessional contributions (NCC) cap: This increases from $110,000 to $120,000 per year. This allows you to contribute your own after-tax dollars to your super.
Maximum NCC cap under bring-forward rules: This increases from $330,000 to $360,000. This allows you to make larger contributions under specific eligibility
If you’re keen to explore changing accountants, we have a non-obligation process to do that. The first step is booking a strategy call with one of our accounting team. It’s a free 20-minute zoom or phone call where you get to meet us to manage your questions.
From that point, you can consider doing a “Look Under The Hood” with us. There is no obligation to change accountants, but we give you a second opinion if you’re paying too much tax.
Throughout that process, we can identify any problems we see with your current setup. Anything that your current accountant hasn’t claimed, or tax you may have overpaid, and strategies of how we might fix that going forward. We can run through with you once you book with us.
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