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At this time of year, do a quick calculation of how much you’ve contributed to superannuation so far this financial year, to make sure you don't exceed the concessional or non-concessional limits.

The following table shows the limits for different age brackets, which have also recently been raised.

Contribution limits for 2014-15


Concessional Contributions cap

Non-concessional Contributions cap

Under 50



49 years or over on 30 June 2014



The bring-forward cap is three times the non-concessional contributions cap of the first year. Note also if you are over 65 years of age you must meet the work test.

It’s also a good idea to have a look at some of the basics, like your trust deed, and within that, your investment strategy document.

Ask yourself the following questions:
- How long is it since you updated it?
- Have you made changes during the year that have not been included in your trust deed?
- What about your investment strategy? Does it capture any major changes that happened in the past 12 months? Have you changed your overall market view and if so, is it included in your investment strategy?

You may have a member who is planning on retiring sometime this year or even just starting up a transition to retirement pension as they make the move over a number of years.

If you’re in pension mode, also make sure you’re paying yourself the correct pension amount.  There are minimum thresholds that you must abide by as outlined in the table below.

Minimum annual payment


Percentage of account balance

Under 64












95 or over


And if you’re paying a transition to retirement pension, there is also a maximum payment threshold of 10%.  That 10% maximum pension rule also applies in the year the transition to retirement pension commences.

You should start with your overall allocations to individual asset classes. Perhaps you think you should have more allocated to international shares, for example, or you might start to consider bonds. Whatever you do, make sure you document it in your investment strategy.

And in the spirit of a fresh start, the beginning of a new year is a good time to consider cutting ties with those stocks and investments that have really done you no favours over the past year.

If you wish to discuss any aspect of your self managed superannuation fund please call Lex Robins or simply call the office organise an appointment. 


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Fax:     (07) 3822 5577
Email: admin@robinsaccountants.com.au


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