The Federal Government has announced changes to the taxation treatment of superannuation contributions after 1st July 2009. If you wish to maximise salary sacrifice contributions to superannuation then you should do so on or before 30th June 2009.
The maximum contributions allowable includes superannuation contributions paid by employers under the Superannuation Contribution Rules (9% of ordinary time earnings). The maximum superannuation contributions that can be made on or before 30th June 2009 are taxpayers aged 50 and over – $100,000 and under 50 – $50,000 (from 1st July 2009 these contributions limits will be halved).
Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
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