'Bring forward' contributions

You can make a difference to your super by taking advantage of the government’s new superannuation contributions rules.

The new ‘Simpler Super’ rules mean you can maximise any lump sums you receive or assets you have by putting up to $450,000 into your super every three years.

Although you’re only able to put a maximum of $150,000 into your super from your after-tax earnings each year, the new rules do allow you, if you are under 65, to bring forward two years worth of contributions into the current year. This means you can pay $450,000 into your super at one time (but nothing for the next two years).

This allows you to take advantage of the tax-friendly treatment of super investment earnings and access your super savings tax-free from the age of 60.

If you’re thinking of selling assets – such as managed funds, shares or an investment property – and transferring the proceeds into your super, or if you want to invest an inheritance you receive, the 'bring forward' rule is one to consider.

Bear in mind, though, that this strategy may or may not be right for you. Selling or transferring assets to super can be complicated, particularly in terms of capital gains tax implications, so it’s important you seek professional advice.



To make a difference to your super, contact a financial planner accredited by AMP.
AMP # 1 for super is based on assets under management (Plan for Life March 07 and DEXX&R March 2007). Find out more about why AMP for super.


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