Do you need a big tax deduction?

Written By Debbie Tsagatos

Do  you need a big tax deduction?

 Is your total super balance less than $500K as at 30 June 2021?

 If the answer to both questions is yes, you can carry forward the unused portion of your annual Super Guarantee  Contribution (SGC) limit for the past 3 years.

 Supposing you and or your employer contributed a total of $10K  per year to your super for each of the previous 3 years. 

You would be eligible to carry forward the unused portion of your SGC limit which in the above scenario is $62,500:

Calculation (3k x 15k) + $17.5k.   The SGC limit increased to $27.5K this financial year.

 Call us on 8362 2626 if you would like more information.

Debbie Tsagatos
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