Opinion: Here is a wrap-up of some of the main things I learnt about money amid a global pandemic in 2021
I did this after becoming aware that it is possible to tip up to $27,500 a year into super and only pay the ultra-low tax rate of just 15 per cent on your money, rather than your marginal tax rate.
Due to recent changes, it is also possible to roll forward unused contribution cap amounts from previous years, provided your total super balance is less than $500,000. Going forward, I’ve instructed my employer to start taking out extra amounts of my regular pay to ensure I am using up this year’s contribution cap .In June, after an exhaustive search, I switched banks to score a new lower interest rate on my mortgage. Not only did I lock in for two years at 1.84 per cent, I also scored a $4000 non-taxable cash back for my efforts.
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