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Annual Account
Statements for 2009-2010
Members'
annual account statements will be
mailed in September, once the Fund
has completed its annual accounts
and declared and applied final investment
return rates. Members who want an
estimate of their account balance
in the meantime can do so by accessing
their account through firstonline or
by contacting our Call Centre on 1300
360 988 to request a
Benefit Quote.
Watch out for
excess contributions - penalty taxes
apply
The Government
has capped the amount of ‘concessional
contributions’ you can make to your
super. ‘Concessional
contributions’ include employer contributions
and salary sacrifice contributions. Contributions
above the set caps will attract 31.5%
penalty tax.
For 2010-11 the caps are:
| Members under 50
years at 30/06/11: |
$25,000 |
| Members 50 years
and over at 30/06/11: |
$50,000 |
If your contributions for 2010/11
are close to these caps, you may consider
suspending your salary sacrifice arrangement
for June to stay under the cap.
Penalty tax also applies to personal
contributions that are above set caps:
| Members under 65 years of age: |
$150,000 p.a. or $450,000 over
3 years. |
| Members 65 – 74 years: |
a work test applies; then the
cap applies |
Call First Super’s Financial Planner
on 1300 360 988 for more information.
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