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Intergenerational Wealth – March 2017 Newsletter

March 2017

Welcome to the latest edition of our client newsletter.

Our articles cover a range of topics which we hope you will find interesting. We aim to keep you informed of changes as they happen, but we also want to provide ideas to help you live the life you want – now and in the future.

In this edition we discuss Estate planning and why you need a super plan and provide you with information on Give your career a health check and The door is closing on super’s current caps.

If you would like to discuss any of the issues raised in this newsletter, please don’t hesitate to contact us.

In the meantime, enjoy the warm weather and we hope you enjoy the read.

Intergenerational Wealth – March 2017 Newsletter

All the best,

Emilio and the team at Intergenerational Wealth

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The clock is ticking, superannuation changes effective 1 July 2017

The clock is ticking, superannuation changes effective 1 July 2017

Changes to the superannuation rules will come into play on 1 July this year. This is an opportunity for you to consider your circumstances and if it is right for you, you could make the most of the current rules that have larger contributions caps.

As of 1 July 2017, the non-concessional contribution cap drops from $180,000 per annum to $100,000 per annum, which means you won’t be able to put as much into your super as you can right now.

Also, the other thing to be aware of is that from the new financial year, if the total balance of your super accumulation and income streams is over $1.6 million, you won’t be able to make any more non-concessional contributions.

You could be eligible to top up your super by up to $540,000

If you’re under age 65, you could also bring forward three years’ worth of after-tax super contributions up to a maximum of $540,000. This is significantly higher than the $300,000 limit that will apply from 1 July 2017.

What else you need to know

An important reminder is that if you contribute more than these caps, you may have to pay extra tax. Also, once your funds are invested in super, you need to meet a condition of release such as retirement, to get access to the funds. The value of your investment in super can go up and down. Before making extra contributions to your super, make sure you understand and are comfortable with any risks associated with your chosen investment option.  It’s important that you speak to an expert about how these changes will impact you before making any financial decisions.

How can you make the most of current superannuation rules?

These are important decisions and you need to consider your own circumstances and assess what the best outcome is for you. We are here to help. Speak to us before the 30 June 2017 deadline to find out how these super changes might affect you.

For further information, please refer to the link below.

Non Concessional Cap opportunity before 1 July 2017


Yours sincerely,

Emilio Bangit

Authorised representative of Charter Financial Planning Limited