If you’re aged between 67–75 and want to claim a tax deduction for a personal super contribution, you must meet the work test (or a one-off work test exemption). The work test requires that, at some time in the financial year, you were gainfully employed for at least 40 hours in any 30 consecutive days...

Many people have life and disability insurance as part of their superannuation fund. This can be a convenient way to get cover, but there comes a time, especially as you approach retirement, when you might wonder if it’s worth keeping. There’s no one-size-fits-all answer. The right decision will depend on your personal circumstances, your finances,...

Superannuation is a great way to save for retirement, but the government sets strict limits on how much you can contribute each year. These limits are called contribution caps. If you go over them, you could face extra tax. But don’t panic – here’s what you need to know and the steps to take if...

Self-Managed Super Funds (SMSFs) are a key part of Australia’s superannuation system, offering control over retirement savings. As of March 2025, about 650,000 SMSFs manage $1 trillion in assets – a quarter of the $4.1 trillion superannuation pool. Let’s take a quick look at who uses SMSFs, why they’re chosen, costs and setup essentials for...

If you’ve been keeping an eye on your super, you might be wondering whether the contribution limits are increasing this year. The answer is – not yet. Two key caps that determine how much you can put into super each year will stay the same from 1 July 2025. Concessional contributions These are contributions made...

Many grandparents wonder if they can leave their superannuation to their grandchildren. Superannuation, or “super,” is a key part of retirement savings in Australia, and its rules can be tricky. So, can a grandparent pass their super to a grandchild? The short answer is – rarely. But there is a solution. A binding super death...

The proposed Division 296 tax, which is proposed to start on 1 July 2025, introduces an extra 15% tax on superannuation earnings above a $3 million super threshold. Everyone supports a fair and sustainable superannuation system, but the new tax is unpopular for many reasons. Two big reasons people don’t like the new tax is...

When it comes to superannuation, many people assume that their retirement savings will go to their loved ones when they pass away. Sadly, this isn’t always the case. Unlike other assets that are covered by your will, your superannuation is handled separately, and if you want to ensure it goes to who you want, you...

A fantastic way to grow your retirement savings and shrink your tax bill is through concessional contributions (CCs) to super. But more is not always better and like Goldilocks and her porridge, it pays to get things just right. The basics of concessional contributions Extra CCs can be made through salary sacrifice or as personal...

The ATO has released findings on how much super from SMSFs has left the system before trustees have met a condition of release. Super must remain preserved One of the main features of superannuation is that you typically can’t access your money until you reach age 65 or when you retire after reaching your preservation...