SMSFA seeks return of higher contribution cap for over 50s
The SMSF Association has called for the return of the $35,000 concessional contributions cap for over 50s, saying the current $25,000 cap prevents fund members from contributing to their super at the stage of life when they can most afford to do so.
In its submission for the 2019 federal budget, the association said the current concessional cap of $25,000 for all members was “restrictive” and limited individuals’ ability to save an adequate amount of super to be self-sufficient in retirement.
Read more at the ifa.
