Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in Money Matters, which aired live on Friday 17 January 2025. The topic for this week is: The Total Super Balance – How much can you have? There is a limit and it impacts what and how you can contribute in additional savings for your retirement. Luke explores this topic as many Australians look to boost their super before retirement.
Thank you for joining us live on 2CC, YouTube or your favourite podcast streaming service with ‘The Strategy Stacker – Luke Talks Money’.
Key topics covered include:
- What is the Total Super Balance?
- If you’ve exceeded it, you generally can’t put more money into super tax free.
- Don’t assume you can put contributions in tax free – check your balance!
- You can however still make deductible contributions to your super, the $30k a year limit applies (this includes employer and salary sacrifice contributions)
- The downsizer legislation provides one opportunity to add more to your super too, regardless of your Total Super Balance – that’s one way around it!
- Remember, Total Super Balance applies at the previous 30 June, not the date you seek to make your contribution
- How can you plan in regard to Total Super Balance?
- The Total Super Balance is not the same as the Transfer Balance Cap – how are they different?
- What strategies are around this that people may consider other than a downsizing contribution?
- Defined Benefit Member balances also have a recorded value towards your Total Super Balance – it applies to you too!
- Luke shares his tips around Total Super Balance and planning for retirement.
Our podcast is also available on Apple Podcasts, Spotify and YouTube – ‘The Strategy Stacker – Luke Talks Money’
Do you need help to navigate super and retirement planning?

Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including investment, super and retirement. Simply make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us form to make an appointment, for a confidential discussion about your situation.
Luke will return to 2CC to talk about other ‘Money Matters’ next week – the final show of the year. You can also catch up with ‘The Strategy Stacker – Luke Talks Money’ podcast at a time that suits you.
We look forward to your company again and Luke’s book Smart Money Strategy is out now.