This weeks End of Financial Year tip.
Changes to Superannuation Concessional Caps: The key message that needs to be communicated to clients is that as of 1 July 2012, the concessional contributions cap will be $25,000 p.a. for all individuals – regardless of their age or their superannuation account balance. This means that an immediate review is required for clients aged 50 and over where those clients are making or receiving concessional contributions that are likely to exceed this $25,000 limit.
TIP 2: Concessional contribution cap review