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Superannuation: "Concessional contribution - utilising carry forward cap"

Strategy Name: Concessional contribution - utilising carry forward cap
Type of Strategy: Bespoke Strategy
Impact on modelling: The entered amount will be deducted from the Bank Balance and contributed to the clients default superannuation. 
Default: Take available funds from the Bank Balance and make a concessional contribution up to the Unused Concessional Cap amount. 
 

⚠Important: Past contribution data is picked up from the Superannuation modal within the Fact Find. If you have not entered past contributions, this strategy will show the total cap as being available minus the SG from the current Financial Year. To enter Past Contributions, navigate to the Superannuation and select the hyperlink of '+ Past Contributions', you will then be able to enter the applicable past contributions (including SG). 💡Tip: We would recommend entering one 'past contribution' per financial year as shown below for the 2018/19 financial year. 

 

Recommendation

In this example, we are recommending that the client makes a Concessional Contribution to their Default Superannuation account, utilising the total cap that is available.

  1. Start Date: For the purpose of this strategy, we would always recommend selecting Immediate. You are able to enter a future date but the 'past concessional contribution' data on screen will only show the 6 financial years data and not dynamically update. This will mean that you will be required to calculate the available cap if you are future dating a recommendation. 
  2. Past Concessional Contribution Details: A summary of data is shown on screen, this data will feed through from the Fact Find as shown above. 
  3. Total Amount of Unused Concessional Cap: Based on the Fact Find data, the system will show the available cap space for this client.
  4. Concessional Contributions Amount: Enter the amount you are recommending the client to contribute.
  5. Amount of Unused Concessional Cap Remaining: Based on your recommendation, the unused cap will show on screen.

 

 

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