I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

Withdrawal of Excess Concessional Contributions

Tips to prevent going beyond the caps

If you’re aged 50 years or over and are benefitting from the higher before tax cap, make certain you have properly adjusted the contribution level so as to prevent paying additional tax. If you’re salary sacrificing into super, you may need to adjust the agreement of your salary sacrifice with your employer.

Contributions belong in the year they’re acquired by the super fund, not in the moment wherein they accrued. As a result, you must inquire your employer the date of the fund’s final contribution for the budget year so that you’ll have the right info.

Allow enough time for settlements to be managed by the fund. You must check when the contribution is expected to be acquired by your super fund. If utilizing a third party, like a financial planner in making the contributions, then they have to ensure the contribution reaches at the super fund prior to the year’s end.

If doubtful, you should discuss with your fund in terms of when the contributions have been acquired. Moreover, you may like to discuss with your fund regarding whether you ought to adjust your proposed contributions in the following year to prevent making extra contributions.

Withdrawing excess contributions is easy. You can learn more about the subject on our site at www.australiansuperfinder.com.au

Loading PLease Wait..