30 June is fast approaching so it is important to stop and assess whether you are taking full advantage of all the opportunities for the end of this financial year.
Putting more money into your super before 30 June 2008 allows you to take advantage of many benefits.
Now is the time to:
- ensure you deposit any superannuation contributions for this financial year
- review the opportunities to determine if you could be making the most of your superannuation:
| Potentially suited for: |
Opportunity to consider |
| Anyone employed |
Salary sacrificing can help grow your superannuation and reduce your tax at the same time. Spouse contributions can also make a difference to your partner’s superannuation and, depending on your partner’s income level, reduce your tax.
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| Aged 50 or over |
Take advantage of transitional arrangements that apply until 2012 that allow concessional contributions of up to $100,000 (not indexed) per year. From 1 July 2012, the standard limit of $50,000 (indexed) per financial year will apply
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| Those earning less than $58,980 (indexed) annually |
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| Those turning 65 this year |
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| Self-employed |
- Your personal super contributions may now attract a 100% tax deduction up to age 75. You may also be eligible for government co-contributions.
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Did you know?
You can pre-pay interest on investment loans for possible tax deductions.
Want to know more?
- Try our interactive simulators. If you are under 50 try My super simulator and if you are over 50 try My retirement simulator
- If you're already an AMP customer, use My portfolio to manage your super account online.
- If you've still got questions about your super, browse our FAQs. Or call AMP today on 133 888
AMP Australia's # 1 for super is based on assets under management (Plan for Life and DEXX&R Mar 2008).
What you need to know
Any information on this page is provided by AMP Superannuation Limited, ABN 31 008 414 104, AFSL No. 233060, RSE Licence No. L0000550.
The information is not based on your personal objectives, financial situation or needs. Accordingly you should consider how appropriate the information is to those objectives, financial situation and needs before acting on the information and, before buying any financial product, you should read the relevant product disclosure statement.
We are part of the AMP Group of companies. However no remuneration or financial benefits are paid to us or our related companies or associates in relation to the information provided on this page.