The 30k Advantage #advantages #retirement

From the 2026 financial year, most Australians are able to contribute up to $30,000 per year into super as concessional contributions.

They are called concessional because the money is taxed at 15% when it goes into super, rather than being taxed at your marginal tax rate, which for many people is around 32%. This creates a tax saving on that portion of income.

There is a limit on how much can be contributed each year because superannuation is designed as a long-term retirement savings vehicle and the government restricts the level of tax concessions available.

For high income earners, making the most of the concessional contribution cap each year can be a very effective strategy. It can reduce personal tax in the short term while also building wealth in a tax-effective environment for the future.

Super is generally intended to fund your lifestyle in retirement once you reach preservation age, often between 60 and 65, helping support potentially decades of life after finishing full-time work.

General advice only.
Amy Lehmann is an Authorised Representative (No. 1292710) of Consortium Private Wealth Pty Ltd (AFS Licence 495401).

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