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People can make additional voluntary contributions to their superannuation and receive tax benefits for doing so, subject to limits. Since the 2021/22 financial year, the concessional contribution cap has been $27,500. This figure is indexed to the Average Weekly Ordinary Times Earnings (AWOTE), but will only increase in increments of $2,500.
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]
MTAA Super was named SuperRatings 7 year platinum performer for 2003-2010. In 2020, the fund was again awarded Platinum Rating by SuperRatings, who named MTAA Super a “best value for money” super fund. [2] MTAA Super merged with Tasplan on 1st April 2021 and became Spirit Super. [3]
Key Points from 24/7 Wall St.: The maximum Social Security check in 2025 is $5,108. There’s a maximum check because there is a cap on how much income is used to calculate benefits.
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 ...
Longer lives. Lifespans have increased by around a decade since the 1960s, putting even more pressure on people to save. The number of Americans 65 and older is projected to increase from 58 ...
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.
President Joe Biden signed a measure into law on Sunday that boosts Social Security retirement payments to some retirees who draw public pensions, such as former police officers and firefighters ...