Following the release of Chant West’s 2024 Superannuation survey, we are pleased to announce that Omura’s portfolios have outperformed all Superannuation funds within the Growth asset allocation included in the survey for the year to 30 June 2024.

From a Superannuation perspective, the May 2023 Budget included minor changes, but largely lacked clarity on previously mentioned proposals.

The Treasury Laws Amendment (2022 Measures No. 2) Bill 2022 received royal assent on 12 December 2022.

Superannuation and Retirement summary.

Many advisers and accountants will be using catch up concessional contributions to reduce taxable income to an optimal level this financial year for big tax refunds, and deciding on what to defer to next financial year.

New tax rates are looking quite interesting in the context of claiming deductions on Super contributions for single taxpayers.