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Colin Lewis

How to take advantage of higher superannuation contribution caps

If you make voluntary pre-tax contributions, the increased cap may mean a bigger deduction and tax saving.

Colin LewisContributor
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From July 1 this year, you may be able to boost your superannuation savings and have more for retirement because the contribution caps are going up.

Last week, the Average Weekly Ordinary Times Earnings (seasonally adjusted to November 2023) figure was released, and it was high enough for the concessional contributions cap to be indexed.

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Colin Lewis is head of strategic advice at Fitzpatricks Advice Partners.
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    Original URL: https://www.afr.com/wealth/personal-finance/how-to-take-advantage-of-higher-superannuation-contribution-caps-20240226-p5f7z8