The government has just announced that from 1 July 2024 the standard concessional contribution cap will increase from $27,500 to $30,000 The non-concessional contribution cap which we calculate as four times the standard concessional contribution cap will also increase from $110,000 to $120,000. This will also bring about a higher non-concessional bring forward cap of $360,000 if triggered in the 2024/25 year onwards. We encourage our clients to continually review their superannuation plan. In many cases superannuation is an effective strategy moving forward as you are nearing retirement . Please contact us if we can assist you in this area [...] READ MORE