#EveryoneNeedsaPlan to Maximise Super in the 2023 FY

The ATO is recently published superannuation rates and thresholds for the 2023 FY.

Some of the key points are as follows:

• Superannuation co-contribution entitlement remains at $500 but the lower income threshold increases to $42,016 and a higher income threshold increases to $57,016
• Concessional Super Contribution Cap limit will remain at $27,500
• Non-Concessional Super Contributions Cap limit will also remain at $110,000

As with most things to do with superannuation, there are many traps and the area is complex, so it is recommended that you seek from a superannuation professional before making any decisions about your superannuation contributions or anything that may affect your superannuation.

GDM has 30 years experience in all things financial, including superannuation, so if you need help please do not hesitate to contact us and arrange your free initial appointment to discuss your requirements in detail.