New year, new limits for super

The start of a new financial year inevitably brings adjustments. Here’s what you need to consider.

Summary: The limits for concessional and non-concessional super contributions are the same this financial year as last. But the limit above which employers aren’t required to pay Superannuation Guarantee contributions is increasing. From today, the preservation age also starts to lift.

Key take-out: This is a good time of year to make adjustments to your contributions plans. Have you considered making more contributions now so you can invest in some markets that have recently taken a beating?

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