How can you add money to your super?
Luke Smith joined 2CC Talking Canberra 1206AM with Richard Perno.
The Money Show aired on Friday 17 May 2019.
Luke talks about super and the ways you can contribute to your fund to create the retirement income you’d like to enjoy. They start the conversation though talking about the upcoming 2019 federal election and the hot button issues that’s have many pre-retirees and retirees concerned.
Key highlights include:
- Contributing to superannuation through Concessional Contributions – Salary Sacrifice, Personal Deductible Contribution and Employer Contributions
- Contributing to superannuation through Non-Concessional Contributions – because it’s tax free going in, it’s tax free coming out!
- When you might use one of the contribution types to super over the other
- You can make contributions to your super anytime during the year – but be aware of the contribution limits
- Don’t forget that contributions need to be in your account before 30 June if you’re looking for a tax deduction. The year it goes in also impacts your contribution limits
- Using offset accounts and super splitting to help you build your super
- Some tips for PSS and CSS and other government super holders in making contributions to non-government funds
- Starting a transition to retirement pension while you’re working and using the payments to fund super contributions
- Facts to remember and busted myths – there are contribution limits , you can take a pension under 60 and tax free depending on your preservation age, government employees do have opportunities, super splitting and more.
Listen to the Podcast right now
Also available on Apple Podcasts
Do you need superannuation advice?
If you need financial advice or would like to talk about your superannuation and retirement plans, make an appointment to meet Luke at Envision Financial Services on 6260 4749 or use our contact us form to make an appointment for a confidential discussion about your situation.
Envision 2CC offer: Your first appointment is at our cost. Make an appointment to confidentially discuss your financial situation and financial goals.
Luke will return to talk about financial planning on 2CC Talking Canberra next Friday from 4.30pm. Tune into listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.