Sentences with phrase «concessional contributions cap»

Your employees should be aware that SG contributions count towards their concessional contributions cap in the year the fund receives the contribution.

From 1 July 2017, the general concessional contributions cap is $ 25,000 for all individuals regardless of age.

For the 2014 — 15, 2015 — 16 and 2016 — 17 financial years, the concessional contributions cap is $ 30,000 per financial year and is increased to $ 35,000 for members aged 49 or over.

If the employee has more than one fund, all concessional contributions made to all funds are added together and counted towards the concessional contributions cap.

On 1 July 2017, the 10 % rule was removed, making it easier for more people to make use of their concessional contributions cap.

However, you will be able to «carry - forward» any unused concessional contributions cap on a rolling 5 year basis.

We adjust these contributions so you don't exceed the concessional contributions cap (which applies to the total of your employer and before tax contributions)

It also affects their ability to make non-concessional contributions, including being able to access the bring - forward rules and it determines whether they can make extra unused concessional contributions after 1 July 2019, by carrying forward their unused concessional contributions cap.

You may be able to carry forward, and use in a later year, up to five years of your unused concessional contributions cap, from 2018 — 19.

Similarly, from 1 July 2017, the annual non-concessional contributions cap will be reduced from $ 180,000 to $ 100,000 per year and will be indexed in line with the concessional contributions cap.

You will be able to access your unused concessional contributions cap on a rolling basis for five years.

You will only be able to carry - forward your unused concessional contributions cap if your total superannuation balance at the end of 30 June of the previous financial year is less than $ 500,000.

From 1 July 2018, you will be able to «carry - forward» any unused amount of your concessional contributions cap.

This document is also available in portable document format — Change to concessional contributions cap (PDF, 152KB) This link will download a file.

Effective 1 July 2017, the government lowered the annual concessional contributions cap to $ 25,000 for all individuals.

The amount of your concessional contributions (made by you or on your behalf) to a super fund in a financial year which is more than your concessional contributions cap.

This is automatically triggered when your concessional contributions exceed the general concessional contributions cap in a particular year and you have unused concessional cap space for one or more of the previous five years.

A tax of 31.5 % on contributions made to your super fund in a financial year, which are more than your concessional contributions cap.

For those 50 years old or over, transitional arrangements are in place to give a higher concessional contributions cap for the financial years up to and including 2011 - 12.

These contributions are treated as employer contributions or concessional contributions for super guarantee purposes and count toward your concessional contributions cap.

An assessment we make if you have exceeded either (or in some cases, both) your concessional contributions cap or your non-concessional contributions cap for a financial year.

This is the equivalent of an employer contribution, so this amount counts towards your concessional contributions cap.

I will assume that you are well aware that there are two main changes for concessional contributions, with the concessional contribution cap moving down to $ 25,000 for everyone.

We assume that the concessional contribution cap will increase in future years with inflation once $ 2,500 steps are reached.

We assume that the concessional contribution cap will increase in future years with inflation once the $ 2,500 increment amounts are reached

If you've had time out of the workforce, work part - time or have irregular work patterns and have contributed less than your before tax (concessional) cap, you can rollover the unused portion of your concessional contribution cap for up to 5 years, allowing you to make additional contributions in future years.

This could count against the deceased member's concessional contribution cap for excess contribution tax purposes.

The cap will be indexed in line with the concessional contributions caps.

Not exact matches

The amount transferred will count towards either your concessional or non-concessional contributions cap depending on how it is treated.

This is on the tax paid on your concessional superannuation contributions up to a cap of $ 500.

additional salary you wish to sacrifice will cause you to exceed your concessional (before - tax) contributions cap and attract additional tax — this cap limits the amounts that can be contributed to your super fund and still receive the concessional tax rate of 15 %

From 1 July 2019, they can take advantage of this cap to make larger concessional contributions.

The LISTO contribution will be equal to 15 % of their total concessional (pre-tax) super contributions for an income year, capped at $ 500.

We assume that contributions made to super are limited to your applicable concessional and non-concessional contribution caps.

If you have a defined benefit account your contributions that count towards the concessional cap will be calculated in accordance with a statutory formula that is not used in this calculator.

Concessional contributions are capped at $ 25,000 per financial year.