In this post we discuss the Bring Forward Rule.
Non-Concessional contributions provide a great way to get money into super quickly. Up to $150,000 can be contributed each year. This will increase to $180,000 from July 2014.
The Bring Forward Rule is non-concessional contributions on steroids. It allows a member of a super fund to contribute up to 3 years of non-concessional contributions in one year. So you could contribute up to $450,000 in the year ending June 2014. Here are a few things to beware of:
If you have any questions about the Bring Forward Rule then feel free to call us on 1300 546 300. We would be happy to assist.
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Greg Einfeld has over 20 years’ experience in the Australian Superannuation and Financial Services industry. He has MEc and MBA degrees, is a licensed financial adviser, a qualified actuary, and specialises in Self Managed Super Funds (SMSF’s). He regularly presents on a variety of SMSF topics including investment, tax, estate planning, pensions, administration and strategies.