Super ! Contribution Limits Increased

A few reminders for you all, which will hopefully make you a little more comfortable in retirement …

If you are an employer (even if your only employee is yourself), then from the 1st July the SGC has increased to 9.5%. Make sure you therefore increase your employee super amounts in the next pay run, and that you are using the new tax tables.

If you are an employee, the effect of the above, and the new super contribution limits that also came into effect from 1 July, means you should check your salary sacrifice amounts.

Your SGC and salary sacrifice amounts combined should be kept below the concessional contribution limit, which for the 2014/15 year is $30,000 for most, and $35,000 if you were aged 49 or over on the 30 June 2014.

So, check your salary sacrifice amounts, adjust them to benefit from the updated limits, and check your payslips to make sure your employer has actioned your request.

If you are a Cathay Pacific employee then you will have already received an email from me with the new suggested salary sacrifice amounts on it, so as long as you have already actioned this you can relax.

Feel free to call me if you require further assistance.

Lindsay 0413 952180

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