Superannuation Changes from 1 July 2024

Are you an Australian expat concerned about how the new superannuation changes effective from 1 July 2024 will affect you? Look no further!

In this essential guide, we break down the upcoming adjustments to Australian superannuation laws and detail what these changes mean for expats and Australian residents.

Whether you're living abroad temporarily or have settled overseas, understanding these updates is crucial for managing your retirement savings effectively.

This video covers:
- The specific changes coming into effect
- How these changes impact contributions, withdrawals, and tax implications
- Strategic insights for Australian expats to optimise their superannuation under the new rules

Stay informed and prepared for the future. Watch now to ensure you can make the most out of your superannuation, no matter where you are in the world!

Like, Subscribe, and hit the Bell icon to stay updated on more financial insights and advice tailored for Australian expats.

#Superannuation2024 #AustralianExpats #FinancialPlanning

About Jarrad Brown:
Jarrad Brown is an Australian-trained and experienced Fee-Based Financial Planner with the Australian Expatriate Group of Global Financial Consultants Pte Ltd providing specialist financial advice and portfolio management services to Australian expatriates in Singapore. Subscribe to this YouTube channel for his latest tips and updates for Australian expats when it comes to making informed financial choices for their time abroad. Jarrad Brown is an Authorised Representative of Global Financial Consultants Pte Ltd – No: 200305462G | MAS License No: FA100035-3

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General Information Only: The information on this site is of a general nature only. It does not take into account your individual financial situation, objectives or needs. You should consider your own financial position and requirements before making a decision.

*Please note that Jarrad Brown is not a tax agent or accountant and none of the content outlined here should be taken as personal advice. You should consult your tax agent and financial adviser to review your current personal finances and financial goals to consider whether this strategy is appropriate for you.

[lostinasia]

Hi Jarrad, Great channel
Does having a super Ballance above $500, 000, remove the option of using the last 5 years of concessional limits?
Second question, if the balance was less than $500, 000 in 2021, can I access that allowance or is it gone forever.
Cheers and thanks

[ranjithnav]

1:47 Hey Jarrad, i believe the carry works only if your super balance is less then $500k right?

[smitagranland]

Hi Jarrad, great vid and thank you. I recently converted my SMSF into “account based Pension”. Can I still make concessional contributions from capital gains from sale of property?. I have been retired for the 2 years

[MrFreekyJ]

So if I have $60, 000 of a concessional allowance remaining to be used, and the full $120K of the non-concessional allowance, if I contribute the $60k of concessional, does that leave me with only $60, 000 non-concessional amount or are they deemed two separate contribution independent of one another?

Great vids btw....

[christiandavies]

Thanks for the video. Any changes to Div 293?

[malcolmlewis]

I haven't worked as a planer for a while but I was under the impression non residens were not meant to contribute to Oz super funds.

[skhasnavis]

Hi - I am an Australian resident. My employer contribution this year has maxed out the contribution limit however I have balance left as carried forward from previous years. Can I still contribute over and above the concessional limit as pre tax deductions and reap tax benefits while using the C/F balance ? Happy to connect and to get some advice.

[paulwalter]

Thanks for the great information in this video. I have a question relating to a foreign invest property held in a corporate trust that we are thinking of selling. We are Australian residents but purchased a New Zealand Property 6 years ago. We have some carryover tax loses and will not be subject to any capital gains tax in New Zealand but the proceeds will be taxed at the current tax rate for businesses. I am retired but my wife is still working here in Australia and she is salary sacrificing up to her limit this financial year and up until she retires in Dec. How much can she deposit into her super fund as non concessional funds in the next financial year from the proceeds of that sale ?

[jaykay]

Thank you for the informative video. I am a non-resident for tax purposes in Australia and I was told by my super that I can't make any contributions. Is that the case?

[bpw]

Hello, thanks for the great video.
Can I ask what it the limit in my super after which I cannot contribute any more non-concessional contributions?
thanks.

[johnesmer]

What about the 45 day rule in Australia to maintain my Australian resedence is that going to be next 2025 tax year ..

[crisbrown]

Hi thanks for the information.
A question.
Once its been taxed personally do i get taxed again at 15% when i put the already taxed money in my super?

[theIdlecrane]

Nice way to roll a big windfall into a tax haven. It’s a good one.