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Superannuation Advice - superannuation advice

Supersize your Superannuation

Superannuation is the wealth accumulation vehicle most Australians rely on to finance their retirement lifestyle and is likely to be the largest asset outside the family home when you finally decide to retire.

However, many don’t understand their superannuation strategies, investment options, contribution limits, and potential taxation benefits. Taking ownership of you’re your superannuation investments early and seeking superannuation advice will help to reach a healthy superannuation balance to support your dream retirement.

Whether you are early in your career or are approaching your retirement years, it’s important to pay attention to your superannuation balance and know whether it will be enough to support you in the future. Alarming, according to finance research leaders, Canstar, 40% of Australians don’t know how much super they currently have1.

Secure your Future with the Right Superannuation Advice for you

Superannuation is a complex investment (and taxation) vehicle that requires informed decision-making, personal financial advice and expert guidance to maximise its value now and into retirement.

There are many obstacles to overcome, including:

  • The significant time it takes to satisfactorily investigate and research your most effective superannuation investment options.
  • Superannuation guidelines and legislation are constantly changing; it is difficult to know whether your superannuation strategy is still making the most of your super without professional superannuation advice.
  • Mismanagement of your superannuation can result in severe financial penalties from the ATO.
  • You may have multiple superannuation accounts being eroded by fees, insurance premiums or unknown costs.

Coastal Advice Group can provide a personal superannuation advice strategy and superannuation review that ensures:

  • A suitable superannuation product is chosen for you.
  • Your chosen superannuation fund has competitive fees in place.
  • Your superannuation funds are simplified and consolidated where appropriate.
  • All lost super accounts are identified and relocated.
  • Your superannuation funds are invested per your current needs, best interests, and future retirement goals.
  • All potential strategies are considered (e.g. Salary Sacrifice, Spouse Super Contributions, Contribution Splitting, Government Co-Contribution and Low-Income Superannuation Tax Offset).
  • Where applicable – can you utilise your superannuation savings to purchase your first home (First Home Loan Deposit Scheme).

Your superannuation investments are the most important sources of money you’ll have in retirement. While you can’t access it before you’ve reached your preservation age, if you make smart decisions with it now and seek superannuation advice, you can have a positive impact, improve your financial situation in retirement, and potentially minimise your tax – thanking yourself in the long run.

The expert financial advisers at Coastal Advice Group understand that a fulfilling retirement means financial comfort – of which your superannuation investments are a critical factor. We can provide the specialist financial planning, expert knowledge and guidance you need to help you make the right financial decisions for a future of comfort, peace of mind, and happiness. We have offices located in Newcastle, the Central Coast, Sydney, Port Macquarie and Byron Bay.

How can I grow my superannuation?

Superannuation Advice - superannuation advice

Different types of superannuation contributions

  • Employer Superannuation Guarantee Contributions: before-tax contributions your employer is legally required to make into your nominated super fund. As of the 2021/2022 Financial Year, the current SGCis set to 10% of gross income.
  • Salary Sacrifice Contributions: an arrangement whereby you and your employer agree to pay a portion of your pre-tax salary as an additional concessional contribution to your superannuation fund. This is typically a tax-effective strategy if you earn more than $37,000 a year.
  • Spouse Superannuation Contributions: a non-concessional voluntary contribution made into your spouse’s nominated super account. This is a voluntary contribution made using after-tax dollars, whereby you don’t claim a tax deduction. If eligible, you can generally contribute to your spouse’s super account and claim an 18% tax offset on up to $3,000 through your tax return.
  • Non-Concessional/After-Tax Contributions: contributions made into your super from your after-tax pay. These payments are called non-concessional contributions because you have already paid tax on the money. You may be able to get a tax deduction for non-concessional contributions.
  • Government Co-Contributions: if you are a low to middle-income earner and make after-tax superannuation contributions, you may be eligible for a matching contribution from the government. The government will work out how much you are entitled to when you lodge your tax return.
  • Downsizer contributions: if you are aged 65 or over, you can make a voluntary contribution to your superannuation savings of up to $300,000 ($600,000 combined for couples) using the proceeds from the sale of your primary residence regardless of their work status, superannuation balance, or contributions history.

Frequently Asked Questions About Superannuation

According to Canstar, here’s the recommended super balance you should have for a comfortable retirement based on your age group:


Recommended super balance required for comfortable retirement










If you are worried that you won’t have enough super for your retirement, receiving professional advice and guidance can help you develop strategies to take control of your superannuation assets and achieve better outcomes.

From 1 July 2021:

  • the non-concessional contribution cap will be $100,000 to $110,000. Members under 65 years of age may be able to make non-concessional contributions of up to three times the annual non-concessional contribution cap in a single year.
  • the general concessional contribution cap is $27,500 for all individuals regardless of age.

It’s important to remember that there are limits to the amount of super you can contribute as well as regulations around contributing. It is always best to seek professional superannuation advice to ensure you adhere to super fund regulations and avoid penalties.

A concessional contribution is made from before-tax income and is taxed at 15% in your super fund. Common examples of concessional contributions include:

  • compulsory employer superannuation guarantee contributions,
  • salary sacrifice arrangements, and
  • any personal super contributions that you claim as a tax deduction.

A non-concessional contribution is made from after-tax income and is not taxed in your super fund. Common examples of non-concessional contributions include:

  • voluntary additional payments made from your after-tax income,
  • any made on behalf of your spouse (married or de facto),
  • a government co-contribution.

A non-concessional contribution is made from after-tax income and is not taxed in your super fund. Common examples of non-concessional contributions include:

  • voluntary additional payments made from your after-tax income,
  • any made on behalf of your spouse (married or de facto),
  • a government co-contribution.

Generally, you must reach preservation age before you can access your superannuation per ATO rules.

Date of birth

Preservation age

Before 1 July 1960


1 July 1960 – 30 June 1961


1 July 1961 – 30 June 1962


1 July 1962 – 30 June 1963


1 July 1963 – 30 June 1964


From 1 July 1964


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