POWERED BY MOMENTUM MEDIA
No phase out for bring forward rule
There will be no phase out of the bring forward rule for individuals approaching age 75 for non-concessional contribution, according to the SMSF Association.
The association said Treasury confirmed to it that under the proposed extension there would be no phase out as it was initially thought an individuals’ entitlement to bring forward their non-concessional contributions would be phased out as they approached age 75.
“Treasury has confirmed that the amendments, which are currently before Parliament, simply move the current cut-off age for the bring forward rule from needing to be under age 67 to needing to be under age 75 from 1 July, 2022,” it said.
“The SMSF Association applauds Government for adopting an approach that doesn't add further complexity to our superannuation system.”
Recommended for you
Vanguard Super has reported strong returns across most of its investment options, attributed to a “low-cost, index-based approach”.
The fund has achieved double-digit returns amid market volatility, reinforcing the value of long-term investment strategies for its members.
Australian super funds notched a third consecutive year of strong returns, with the median balanced option delivering an estimated 10.1 per cent over the 2024-25 financial year, but an economist has warned that the rally may be harder to sustain as key risks gather pace.
AustralianSuper has reported a 9.52 per cent return for its Balanced super option for the 2024–25 financial year, as markets delivered another year of strong performance despite the complex investing environment.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
99.46 3 y p.a(%)
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
78.55 3 y p.a(%)
4
BetaShares Crypto Innovators ETF
50.39 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
47.50 3 y p.a(%)
