Aussie Expat Podcast

Welcome to the eighty eighth episode of the #Expatchat podcast where we discuss the latest tax and financial issues affecting an #Australianexpat. In today’s Expat Chat we talk about the new super changes which are now in effect for the 2024 financial year. These changes impact current contribution amounts and caps, superannuation balances as well as what we can have in account based pension mode. The recent changes allow Australians to get more into their Superannuation funds, which is great news yet indexation was not applied to a lot of contribution types. We also discussed the notion of ‘Use it or lose it’ which applies to the catch up concessional contribution strategy, which has been in place since the 2019 financial year. Lastly, the downsizer contribution eligibility age has now been dropped to 55, which gives expats a greater chance to boosting super before age 60. In this episode we run through the following questions: • What the Transfer Balance Cap (TBC) is? • The changes applying to the T