Excess superannuation contributions

Excess superannuation contributions

There is no restriction on the amount of money that can be contributed into a self managed superannuation fund (SMSF).  However, superannuation contributions above certain contributions caps do not receive concessional tax treatment.  The two main types of...
Can a Self Managed Superannuation Fund receive gifts?

Can a Self Managed Superannuation Fund receive gifts?

When the Federal government first introduced the legal structure of a Self Managed Superannuation Fund (SMSF) into the Superannuation Law on 8 October 1999, it was mainly intended for family members who operated small businesses together.  Due to the Superannuation...

Personal concessional contribution – Notice Section 290.170

A member who intends to claim a deduction for his/her personal superannuation contributions must give to the superannuation fund’s trustees a valid notice in the approved form before lodging their income tax return for the year in which the contribution was made or...

Super contributions for members beyond 75 years

If you are 75 years or older, the super fund cannot accept any voluntary (concessional and non-concessional) contributions from you apart from mandated (super guarantee) employer contributions which can be contributed at any time regardless of age. However, the SIS...

Spouse super contribution tax offset

You may be able to claim an 18% tax offset on super contributions of up to $3,000 you make on behalf of your non-working or low-income-earning spouse to a: Complying super fund Retirement savings account (RSA). Contributions you make on behalf of your eligible spouse...