At the beginning of each new financial year concessional-contribution caps are refreshed. July is a good time to review your salary sacrifice contributions to superannuation as you can control your cash flow for the entire year.

For the financial year 2017 the general concessional contribution cap is $30,000 however, for those who will be 50 or over during the year this cap is $35,000. When assessing your salary sacrifice contributions bear in mind included in your $30,000 or $35,000 cap are superannuation guarantee contributions which are slated to be 9.5% of your ordinary times earnings.