Superannuation Advice

For most, superannuation is one of the most significant assets you’ll have as you approach retirement.

Our Approach

We provide comprehensive superannuation advice tailored to your financial goals.

At Donmont Capital, we understand navigating the super environment can be complex, so our expert team helps you maximise the benefits of your fund, ensuring it works as hard as you do.

lost super

According to the ATO, as of June 2020 there is $13.8 billion in lost super across Australia.

This is defined as an account that is paid into by your employer and has remained idle due to the super fund being unable to contact you.

Consolidation can be an important strategy to help improve the efficiencies of your fund. Please be mindful that it is important to consider the risks of consolidation as there may be insurances or other benefits which cannot be recovered once the fund has been closed down. Get in touch with us today to conduct a superannuation search.

How To Contribute Into Super

Since 1 July 2021, Superannuation Guarantee Contributions have been gradually increasing by 0.5% each financial year.

Employers will be obligated to pay all their employees Super Guarantee of 12%. However, there are also other ways in which you can contribute money to your superannuation. Please be mindful it is important to consider your cashflow position before contributing extra funds into your super as it is difficult to withdraw funds at a later stage.

Superannuation Contributions Strategies

Salary Sacrifice

Salary Sacrifice into superannuation is an arrangement where an employee chooses to contribute part of their pre-tax salary directly to their super fund. This reduces their taxable income, meaning less income tax is paid while boosting their retirement savings.

It's an effective way to grow superannuation but requires consideration of factors like the Concessional Contributions Cap, Carry-Forward Concessional Contributions, and Division 293 Tax, which may impact higher-income earners.

Downsizer Contribution

The Downsizer Contribution allows individuals aged 65 and older to contribute up to $300,000 from the sale of their home into their superannuation fund. Couples can each contribute the maximum.

This contribution doesn’t count towards non-concessional contribution caps and can be a tax-efficient way to grow retirement savings. Key considerations include pensions eligibility tests, the transfer balance cap, and contribution eligibility.

Spousal Contribution

A Spousal Contribution lets one partner contribute up to $3,000 to their spouse's super if the spouse earns under $40,000 per year. The contributing partner can claim a tax offset of up to $540.

This is a tax-effective way to boost a spouse's retirement savings, especially if they have a lower earning capacity. It's important to consider Carry-Forward Concessional Contributions, available cashflow, and residency requirements.