Press Release

If you thought you missed out on this year's one-off opportunity to make up to $1 million in after-tax super contributions, think again.

Canny investors who missed the June 30 deadline for up to $1 million in after-tax super contributions can still contribute up to $900,000 into their superannuation funds, according to a leading self-managed fund expert.

Self-managed superannuation funds specialist Super Concepts said the one-off $1m opportunity, available before the Federal Government's new Simplified Super rules kicked in from July 1, was not the only way for people to make large, non-deductible superannuation contributions.

Under the Simplified Super system, investors aged between 60 and 65 years can make $150,000 in non-deductible contributions per year, or $450,000 over three years. For clients over 65 years they must meet the work test.

"It's not the end of the world if you missed the June 30 deadline," Mr Sadler said.

"A husband and wife with a self-managed super fund, for example, could both make $450,000 in undeducted contributions - that's $900,000.

"Although you can't make any more non-deductible contributions for the next three years, you can still sink a large amount of money into your super.

"It's quite a good option for investors if they have missed the deadline."

Once the three years were up, investors could then make another large non-deductible contribution of $450,000, Mr Sadler said.

END.