HomeSMSF NewsIncreased Concessional Cap for Over 50’s

Increased Concessional Cap for Over 50’s

As announced in the 2011 Federal Budget, the Government will increase the concessional contributions cap by $25,000 to $50,000 for those aged over 50 and with a fund balance below $500,000.  This will apply from 1 July 2012.

** Update – Please note that as announced in the 2012 Federal Budget, this measure has been deferred until 1 July 2014.

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Diana Morris founded The SMSF Accountant in 2010. Diana is a member of both CPA Australia and Chartered Accountants Australia and New Zealand and an affiliate of The Tax Institute. She holds a current public practice certificate, and is a registered tax agent. Diana has completed a Bachelor of Commerce degree and a Graduate Diploma of Chartered Accounting.