In today’s video, we're exploring non-concessional contributions and how they fit into a well-rounded financial plan. Non-concessional contributions are contributions made to your superannuation fund from after-tax income, which don’t receive tax deductions. While these contributions may not offer immediate tax benefits, they can be a powerful strategy for growing your retirement savings over the long term. We’ll break down the annual caps, the potential tax implications, and when it’s beneficial to consider non-concessional contributions as part of your financial strategy. By the end, you'll have a clearer view on whether this approach aligns with your goals.
