Its quiet interesting how we reject the reality of our situation and expect to be able to observe it, control it and even change it. I used to be financially depressed until I read a book that made me realized that the secret to making a million is making better investments.
What I think everyone need is an adviser, who can help you get in and out of any investment at any time and you'd sure be in Profit. With this I feel anyone can basically achieve financial freedom..
My advisor is JENNY PAMOGAS CANAYA highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Hi Katherine. Can you please explain how to claim unused concessional super from previous years? I understand you can salary sacrifice the maximum ($27.5k) plus more if you didn’t pay the maximum limits from previous years. Would this be correct?
Hi Katherine, thank you for your video. Your information is useful. I do salary sacrifice since 7 years ago. My age is 59 now and my wife is not working. My wife used to have a super acct but since her balance is less than 3000 and stop working, then her acct is in ATO now. I would like to to contribute after tax to her super. Since she doesn’t have a super acct anymore. Can she transfer her money that held from ATO to a superfund that she pick? After she got the acct, how much is the maximum after tax contribution that I can transfer to her super acct per financial year? Your information and suggestion is appreciated. Thx
I had Salary Sacrifice in place for 20 years. Initially small amounts, but over time I did the maximum I could, hence saved tax. By the time of my retirement, I had saved heaps in tax and with the aid of compounding, my Super fund was about double what it would have been if I had relied solely on SGC contributions. Win, win
In the case of Amelia presumably she receives SGC of $19,950 (10.5 per cent) of salary so making $10000 of salary sacrifice would make concessional contributions of $29,950 which is above the $27,500 cap. She’d get a tax bill for extra tax on the $2450 above the cap. Also remember bonuses and commissions are superannuable and if she receives these as well she’s in danger of Division 293 tax 🥲
that is correct Mark, but the point of the video was purely an example of the difference in MTR, rather then be exact with other superannuation and tax rules.
Its quiet interesting how we reject the reality of our situation and expect to be able to observe it, control it and even change it. I used to be financially depressed until I read a book that made me realized that the secret to making a million is making better investments.
What I think everyone need is an adviser, who can help you get in and out of any investment at any time and you'd sure be in Profit. With this I feel anyone can basically achieve financial freedom..
My advisor is JENNY PAMOGAS CANAYA highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Love your work
Thank you Sam 😀
Hi Katherine. Can you please explain how to claim unused concessional super from previous years? I understand you can salary sacrifice the maximum ($27.5k) plus more if you didn’t pay the maximum limits from previous years. Would this be correct?
hi Vanessa, just watch this video: Catch Up Carry-forward Concessional Contributions ua-cam.com/video/hnDREUFvUJg/v-deo.html
Hi Katherine, thank you for your video. Your information is useful. I do salary sacrifice since 7 years ago. My age is 59 now and my wife is not working. My wife used to have a super acct but since her balance is less than 3000 and stop working, then her acct is in ATO now. I would like to to contribute after tax to her super. Since she doesn’t have a super acct anymore. Can she transfer her money that held from ATO to a superfund that she pick? After she got the acct, how much is the maximum after tax contribution that I can transfer to her super acct per financial year? Your information and suggestion is appreciated. Thx
My wife is 9 years younger than me. So, if I reach pension age, she will be 58.
@@D21V21 yes, she can transfer funds to her new super account. The annual non-concessional (personal undeducted contribution) is up to $110K
Do you or have you had a salary sacrifice in place? Do you find it beneficial?
I had Salary Sacrifice in place for 20 years. Initially small amounts, but over time I did the maximum I could, hence saved tax. By the time of my retirement, I had saved heaps in tax and with the aid of compounding, my Super fund was about double what it would have been if I had relied solely on SGC contributions. Win, win
☕💐💐👏👏
my family :)
In the case of Amelia presumably she receives SGC of $19,950 (10.5 per cent) of salary so making $10000 of salary sacrifice would make concessional contributions of $29,950 which is above the $27,500 cap. She’d get a tax bill for extra tax on the $2450 above the cap. Also remember bonuses and commissions are superannuable and if she receives these as well she’s in danger of Division 293 tax 🥲
that is correct Mark, but the point of the video was purely an example of the difference in MTR, rather then be exact with other superannuation and tax rules.