Financial Planner Luke Smith joined 2CC Talking Canberra in Money Matters, which aired live on Friday 25 July 2025. The topic for this week is: What ways are available to get more money into super for a tax-free retirement? Most Australians now realise that saving into super provides tax free income in retirement. It comes about as a result of the special kind of structure superannuation is. Savings outside of super will incur tax just like they do while you’re working. Luke is of course joined by Leon Delaney of 2CC.
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:
- Employers are required to put money into super for employes. Click here for details on how much you should get.
- There are ways you can bolster your super too, other than via your employer.
- How much can you put it and get a tax deduction?
- The government has a limit on how much of a tax deduction you can get, it’s called the concessional contribution cap.
- What are the ways you can put money into super and get a tax deduction starting now? There are a couple of ways to do this!
- Don’t forget about the catch-up legislation, which is one way you can increase your current tax deduction for this year. Rules apply.
- Many people don’t realise that they can also put money into super without getting a tax deduction too. There’s also a limit on how much you can put in one year of $120,000.
- There is however another way to get more in, using the bring forward rules. This means you can put in up to $360,000 in one go, however, please check the rules to make sure you’re eligible.
- You can also use the downsizer legislation, if you’re looking to downsize your primary residence. You can use money from the sale under the downsizer contribution to super rules. This way is in addition to all of the above ways too.
- Why would you save more into super? Tax free income and earnings in retirement! This includes capital gains tax.
- If you’re an employer, the capital gains tax small business concessions are worth considering too, which can help you bolster your superannuation before retirement.
- How do you start a tax-free pension from super?
- Luke shares his top tips to consider when looking at getting more money into super
Our podcast is also available on Apple Podcasts, Spotify and YouTube – ‘The Strategy Stacker – Luke Talks Money’
Do you need help to get your retirement planning sorted for a tax-free retirement?
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 (including transition to 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 own goals and situation.
Luke will return to 2CC to talk about other ‘Money Matters’ next week, we hope you can join us. 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. Luke’s book Smart Money Strategy is out now.
