We All Get A Fair Go Now
Money Magazine Australia|February 2018

Employees are the winners thanks to new rules for tax-deductible contributions

Vita Palestrant
We All Get A Fair Go Now

Let’s kick off the new year with some good news. Recent rule changes to super make the system fairer, more flexible and easier to understand for employees wishing to make tax-deductible contributions.

First, they can now contribute directly to their fund and claim a tax deduction for doing so. Second, a rort that allows employers to minimise their 9.5% super guarantee (SG) obligation faces the chop. This is long overdue. But more on that later.

Previously, if you wanted to maximise your concessional contributions, capped at $25,000 this financial year, you needed to make salary sacrifice arrangements with your employer. However, not all employers facilitate it, so while it was good for some, others missed out. Such arrangements are no longer necessary. Control is now in employees’ hands. Since July 2017 an employee can make a personal tax-deductible contribution to super and claim a deduction. But they need to stay within the $25,000 limit, which includes the SG.

هذه القصة مأخوذة من طبعة February 2018 من Money Magazine Australia.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة February 2018 من Money Magazine Australia.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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