Maximise Your Super Contributions in 2024–2025: Key Changes to Bring-Forward Arrangements (Sep 24 Tax Update)

Relevant For:

Individuals under 75 looking to maximise their superannuation savings through bring-forward contribution strategies.

Key Points:

• The annual cap on non-concessional contributions (NCCs) has increased to $120,000 for 2024–2025.
• The bring-forward rule allows up to three years’ worth of NCCs to be contributed in a shorter period, ideal for those with lump sum payments.
• Eligibility requires being under 75 and is influenced by the total superannuation balance (TSB) as of 30 June of the previous year.
• TSB thresholds have decreased, potentially limiting eligibility. Verify eligibility with updated thresholds before making contributions.

Full Article:

For those looking to boost their retirement savings, there’s good news this year. The