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Contributions to superannuation funds are subject to two types of "caps", and a third has been proposed in the 2016 federal budget. The annual concessional contributions cap since 2014/15 has been $30,000, with the cap for people over the age of 49 at the start of each year being $35,000. [5]
The concessional contribution cap for the 2017-2018 financial year is $25,000. For later financial years, the cap is worked out by indexing annually this amount. From 1 July 2019 a taxpayer who meets a maximum balance condition who does not use their cap in full may carry forward the unused cap for a limited time period.
UniSuper is an Australian superannuation fund that provides superannuation services to employees of Australia's higher education and research sector. The fund has over 615,000 members and A$124 billion in funds under management, as of 30 June 2023.
On the campaign trail, Trump promised a variety of tax breaks, including removing the TCJA’s $10,000 cap on the deduction for state and local taxes, and eliminating taxes on tip income, overtime ...
Image source: Getty Images. 1. Cost increases for Parts A and B. Original Medicare's premiums and deductibles went up in 2025. The Part A annual deductible increased from $1,632 to $1,676, and the ...
A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income. The U.S. Government's Social Security Trust Fund, which oversees $2.57 trillion in assets, is the world's largest public pension fund. Pension funds typically have large amounts of money to invest and are the ...
Small-cap stocks may have finally turned the corner last quarter, but the rally may be just getting started. The benchmark small-cap stock index, the Russell 2000, climbed 8.9% during the third ...
On 1 July 2021, the pension age became 66 years and 6 months, and from 1 July 2023, the pension age will increase to 67, the proposed cap. [ 28 ] a residency requirement requires an applicant to have been a resident in Australia for the last 10 years, with no break in residency for 5 of those years, and be in Australia on the day the ...