Some great news for Australians is that the amount we are allowed to stick into super is about to rise. I was quoted in this article by ‘Wealth Professional’ about the changes but felt the need to expand on what exactly is is happening and the impact it will potentially have.
Both concessional and non-concessional contributions are payments made to a superannuation fund, however they are taxed differently. There are also different contribution caps for each type.
I receive many, many articles on a daily basis and have become quite accomplished in separating the wheat from the chaff. It is rare to come across an article of the calibre I received today though.