Lump Sum (one-off) Withdrawals
If you are planning any large acquisitions in July that will require drawing down on your investments, superannuation or pension accounts, please be aware that most investment managers delay redemptions in the first weeks of the new financial year as they finalise their end of year accounts.
To avoid any issues, we recommend you redeem any cash that will be needed in July, by no later than 15th June 2020 – or if possible, defer any large purchases to late July.
Concessional Contribution Caps for 2019/2020 (Contributions that are Tax Deductible):
Non Concessional Contributions for 2019/2020 (Contributions not eligible for a Tax Deduction):
Super Balance 30 June 2019
Less than $1.4 million
$1.4 million to less than $1.5 million
$1.5 million to less than $1.6 million
$1.6 million or more