Untaxed super not affected by concessional caps
As long as the debate about the increase of superannuation concessional contributions caps for over 50s continues, untaxed schemes will not be affected by the proposed changes, according to GESB chief executive Michele Dolin.
Dolin said that there was no cap on contributions to untaxed schemes such as GESB’s West State Super scheme, but added this was offset by a ceiling on how much the retirement benefit was concessionally taxed.
“Currently, untaxed retirement benefits can be as high as $1.55 million before the top marginal tax rate is applied,” she said.
Despite this, Dolin said that the industry as a whole was supportive of extending the contributions cap, but expected there to be further discussion before the detail is finalised.
“Superannuation is the most tax-effective way to save for later life. A permanent extension of the contribution cap for taxed funds means that more people will be able to increase their retirement savings,” she said.
AUTHOR
Ashleigh McIntyre
Recommended for you
State Super has begun its partnership with Frontier Advisors, transferring investment staff and taking a major equity stake to support long-term capability.
The fund has recorded double-digit MySuper gains over the year to 31 October, outperforming market medians and highlighting global equities and private credit positioning.
The regulator invited industry feedback on stamp duty and private debt disclosure reforms following its targeted review of investment reporting.
The winners have been announced for the 2025 Super Fund of the Year Awards, held in Melbourne on 26 November.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
220.82 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
110.57 3 y p.a(%)
3
Quay Global Real Estate Fund (Unhedged) Active ETF Hedged
89.04 3 y p.a(%)
4
SGH Income Trust Dis AUD
80.18 3 y p.a(%)
5
Global X 21Shares Bitcoin ETF
76.11 3 y p.a(%)
