Hello and welcome back to the 360 Money Matters podcast! In one of our previous episodes, we talked all about superannuation and how it can contribute to your long-term wealth creation. In Australia, superannuation is one of the best tax opportunities you can get and provides you with an income stream once you retire.
In this episode, we'll expand more on this topic, specifically on superannuation contributions and why you should do it. There are a variety of ways you can contribute to your superannuation and how you can maximize your contributions to tie into your broader wealth creation strategy. We will also dive into the intricacies of super contributions including how to navigate them around the complexities of the tax environment.
We hope this episode will give you all more insight on superannuation, its limitations, and opportunities to contribute money to it in a manner that is effective and efficient for your financial situation. Stay tuned!
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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis and Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorised representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights:
• The three main things about superannuation contributions.
• Forms of Concessional contributions and Non-concessional contributions.
• Limits to Non-concessional contributions.
• Downsizer contributions and Government co-contributions.
• Limitations around the pension-balance transfer cap.
• Why you should take advantage of spouse splitting inside super.
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