Not exact matches
There is an income
cap on the Roth IRA: Only married people earning less than $ 189,000, or single people earning less than $ 120,000, are allowed to make the maximum
yearly contribution of $ 5,500 (or $ 6,500 for people aged 50 or older).
The report, however, said under the $ 5,500
yearly cap, there had already been a steep drop in the number of people who maxed out their TFSA
contributions.
The Employer Participation in Student Loan Assistance Act would allow up to $ 5,250 in
yearly contributions from employers to pay towards employee student loans with a lifetime
cap of $ 50,000.
For the 2014 — 15, 2015 — 16 and 2016 — 17 financial years non-concessional
contributions are subject to a
yearly cap of $ 180,000 for members 65 or over but under 75 or $ 540,000 over a three - year period for members under 65If a member's non-concessional
contributions exceed the
cap, from 1 July 2017 a tax of 47 % is levied on the excess
contributions.