22
Aug 2023
2023/24 ideal for concessional contributions
The 2024 financial year is the time period for trustees to make voluntary contributions to superannuation funds as a number of key events have converged to boost their usefulness, according to a technical expert. BT Academy technical consultant Matt Manning highlighted 2023/24 was the last year trustees could make use of accrued unused concessional super contribution caps from the 2019 financial year when the mechanism was first initiated. To illustrate
27
Feb 2020
How much super do you need?
What’s a comfortable retirement income in Australia, and how much super do Australians need to achieve it? It depends on who you ask. At a glance: Three factors determine the required savings amount: income, lifestyle, and life expectancy. The commonly cited $1.6 million figure is an attempt to address longevity considerations. The ASFA’s benchmark retirement income is known as the ASFA Retirement Standard. For some Australians, A$500,000 in super and
27
Feb 2020
How much super do you need?
What’s a comfortable retirement income in Australia, and how much super do Australians need to achieve it? It depends on who you ask. At a glance: Three factors determine the required savings amount: income, lifestyle, and life expectancy. The commonly cited $1.6 million figure is an attempt to address longevity considerations. The ASFA’s benchmark retirement income is known as the ASFA Retirement Standard. For some Australians, A$500,000 in super and