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Non-Concessional Super Contribution Around age 75: Know your Deadline
Non-concessional contributions (NCCs) are made from after-tax money, such as savings, an inheritance or the proceeds of an asset sale, and you don’t claim a tax deduction for them. For 2026-27 the annual cap is $130,000. If you’re eligible for the bring-forward arrangement, you can use up to three years of caps at once, or $390,000. To contribute at all without extra tax, your total super balance must be under $2 million at 30 June 2026, and you need a balance under $1.84 million to access the full three years. No work test applies to NCCs.
Read the full Article at Find Maroondah October Edition Page 29
Aged Care Considerations when Retiring: Why Giving your money away can create problems later
Retirement is often a time when parents want to help their children. They may want to contribute towards a house deposit, pay off a child’s mortgage, help with grandchildren’s education or simply give their children some of the wealth they have accumulated over a lifetime.
Helping family can be incredibly rewarding. However, there is an important consideration that is sometimes overlooked:
Will you still have enough money if you need aged care later in life?….
Read the full Article at Find Maroondah October Edition Page 31
Featured Articles
september 2026: Aged Care
The value of financial advice when planning for aged care in australia
September 2026: Retirement
How do you know when it is time to retire?
September 2026: Accountant
Don’t let a scammer lodge your tax return: protecting your mYGOV account this tax time
August 2026: Aged Care
Is your client grandfathered under the new residential aged care rules?
August 2026: Retirement
Understanding the transfer balance cap – can you still contribute to super?
