Supporting Resources for Retirement:
The Great Escape Plan
This page provides updated links, technical information and resources referenced throughout Retirement: The Great Escape Plan. It’s designed to keep information current as rules and regulations evolve.
Welcome, and thank you for reading Retirement: The Great Escape Plan.
Financial rules, legislation and thresholds change regularly. Rather than updating the book each time something changes, this page has been created to give you access to the most current technical information and trusted resources referenced throughout the book.
Technical Resources
Here we’ve collated some of the key information and reference material referred to throughout Retirement: The Great Escape Plan. The information on this page has been organised into five key categories to make it easy to explore topics relevant to your retirement journey.
Simply click on the heading that interests you below to expand each section and view the most relevant information, resources and links currently available. These resources will be updated from time to time as information changes or new resources become available.
The information provided is of a general nature only. The links included will take you to publicly available third-party websites for your own reference and consideration. As everyone’s circumstances are different, this information is intended to support your understanding and conversations, not replace personalised advice.
Creating a clear picture of your personal, financial and family circumstances is an important first step when planning for retirement and beyond. A fact find and family tree help bring all the key pieces together — from personal details and income, to assets, liabilities, superannuation, insurance and estate planning considerations.
The downloadable fact find and family tree form has been designed to help you gather this information in one place. It can support your own reflection and planning and is also a useful starting point if you’re working with a financial adviser or other professional. Taking the time to complete it can provide valuable clarity and help ensure important details aren’t overlooked.
You can download the form below and complete it at your own pace. It’s not about getting everything perfect, it’s about creating a practical snapshot of where you are today, so you can make more informed decisions about what comes next.
Types of Super Contributions
Concessional contributions
These are contributions made to your super account from your pre-tax income. They include the 12% of salary that your employer must pay to your account in the form of superannuation guarantee (SG) contributions and, if you are self-employed, they have the bonus of being tax deductible. When concessional contributions go into your super account, they are taxed at the concessional rate of 15% (hence the name).
If the 12% of salary your employer contributes falls short of $32,500 per financial year (the ‘concessional contributions cap’) you can make extra before tax contributions up to the cap. If you haven’t made contributions up to the cap in previous years, you may be able to carry forward any unused portion from the preceding five years, but only if your super balance is below $500,000 at 30th of June the previous financial year.
It’s important to keep track of your concessional contributions because if they exceed the cap, they will be included in your taxable income and taxed at your marginal rate, (less the 15% tax offset).
You can keep track of your concessional contributions online via the Australian Taxation Office (ATO) and, usually, your superannuation fund. At JBS for our clients, we can also advise you on how much you can make in concessional contributions and create a strategy that includes maximising them.
Non-concessional contributions
These are contributions made to your super account from your after-tax income.
Generally speaking, you can currently make these extra contributions to your account up to $130,000 per financial year (the ‘non-concessional contributions cap’), without being subject to extra tax. The cap is reviewed annually in line with AWOTE.
However, and this is very important for people leading up to retirement, if you are under the age of 75, you may be able to make non-concessional contributions up to three times the annual cap in a single year, that is, up to $390,000. This might be very useful if you have a financial windfall, for example an inheritance, or sell an asset and want to get more money into super.
It is also very important to keep track of your non-concessional contributions, because if you exceed the cap, or are not eligible for the bring-forward arrangement, you may have to pay tax of up to 47% on the excess contributions.
Again, you can keep track of your non-concessional contributions online via the ATO and, usually, your superannuation fund. We can also create a strategy which includes maximising your non-concessional contributions. It’s important to remember that making extra contributions to super, particularly non-concessional contributions, can be quite complicated, so it really does makes sense to get financial advice before making them.
Downsizer contributions
Downsizer contributions are where you are allowed to contribute up to $300,000 each into super after selling your home that you have owned for at least 10 years and the sale must quality for the main resident CGT exemption, either fully or partially (eg. It has been your main residence for a period of time during the time you owned it). You and/or your partner must be 55 years old or older. A great way of boosting super, but contributions must be made into super within 90 days of settlement of your property. This is a once-off opportunity that should be considered.
Condition of Release
Generally speaking, if you are aged over 60 and retired, any income you take from your superannuation fund, once you have turned it into a pension income stream, is tax-free. If you are younger than 60, but over 55, you will need to have met preservation age to access your super, preservation age is now age 60 if you were born after 1 July 1964.
The two types of income stream you can take from your super fund are an:
- Account-based pension; this is a series of regular payments from your fund
- Annuity: this is a fixed payment income which goes for the rest of your life, or for a defined period of time
Transfer balance cap
Individuals starting a pension for the first time on or after 1 July 2026 will be entitled to a personal transfer balance cap (TBC) of $2.1 million.
The TBC is the maximum amount that an individual can transfer from their superannuation accumulation account into a tax-free pension account on their retirement. Any amount over the TBC must be retained in an accumulation account, where any contributions and investment earnings are still taxed at 15%.
Keep in mind that investment earnings within the pension account can increase the account balance above the $2.1 million transfer balance cap without any penalty.
Consult with Your Financial Adviser
It’s advisable to consult with your financial adviser to tailor strategies to your specific circumstances and ensure compliance with the new regulations.
All limites are effective 1 July 2026
Whether you’re managing super contributions, maximising deductions, or simply getting your records in order, a clear and proactive approach can make a big difference. At JBS Financial, we’re here to guide you through the process and ensure you’re ready for the year ahead with confidence. Here’s an updated checklist to guide you:
Review Superannuation Contributions
- Concessional Contributions Cap: For the 2026-27 financial year, the concessional (before-tax) contributions cap is $32,500.
- Non-Concessional Contributions Cap: The non-concessional (after-tax) contributions cap has increased to $130,000.
- Bring-Forward Rule: If you’re under 75, consider utilising the bring-forward rule to make up to three years’ worth of non-concessional contributions in a single year, allowing up to $390,000 in contributions.
- Carried Forward Concessional Contributions: If you have unused concessional cap amounts from previous years, you may be able to carry them forward to increase your contribution caps in later years. You’re eligible to do this if you have both:
- a total super balance of less than $500,000 at 30 June of the previous financial year
- unused concessional contributions cap amounts from up to 5 previous years.
- The unused cap amounts you can carry forward depends on the amount you have contributed in previous years, starting from 2018–19. You can carry forward unused cap amounts from up to 5 previous financial years, including when you were not a member of a super fund.
- Unused cap amounts are available for 5 years and expire after this. For example, a 2021–22 unused cap amount that is not used by the end of 2026-27 will expire.
Understand Superannuation Changes
- Superannuation Guarantee (SG) Rate Increase: From 1 July 2025, the SG rate is 12%. Ensure your payroll systems are updated accordingly.
- Tax on Super Balances Over $3 Million: Starting 1 July 2025, earnings on superannuation balances exceeding $3 million will be taxed at 30%, up from the standard 15%. This measure is not yet law but is proposed to take effect from this date.
- Transfer Balance Cap Increase: The general transfer balance cap is currently $2.1 million from 1 July 2026, affecting the amount you can transfer into a tax-free retirement account.
- Superannuation on Paid Parental Leave: From 1 July 2025, the government will pay superannuation on government-funded Parental Leave Pay, enhancing retirement savings for eligible parents.
Maximise Tax Deductions
- Prepay Expenses: To bring forward deductions, consider prepaying deductible expenses, such as insurance premiums or investment property expenses.
- Review Investment Portfolio: Assess your investment portfolio for any capital gains or losses. Realising losses can offset gains and reduce your taxable income.
- Charitable Donations: To claim a deduction in this financial year, ensure any charitable donations are made before 30 June.
- Organise Financial Records
- Gather Documentation: Collect all necessary documents, including income statements, receipts for deductions, and records of any asset purchases or sales.
- Review PAYG Withholding: Ensure your Pay As You Go (PAYG) withholding amounts are accurate to avoid any surprises at tax time.
Consult with Your Financial Adviser
It’s advisable to consult with your financial adviser to tailor strategies to your specific circumstances and ensure compliance with the new regulations.
Elder Abuse Hotline
1800ELDERHelp – https://www.health.gov.au/contacts/elder-abuse-phone-line
If you want to know more about the statistics behind elder abuse in Australia, here is a research study done in 2022.
https://aifs.gov.au/research/research-snapshots/elder-abuse-australia-financial-abuse
Dementia and Aging at home
Dementia Australia Check them out on their website: https://www.dementia.org.au/living-dementia/home-life/creating-dementia-friendly-home
Red Cross that offers a daily telephone support call to check on your wellbeing. More information about the service is on their website: https://www.redcross.org.au/services/telecross/
My Aged Care
My Aged Care’s Find a Provider tool, at the following link: https://www.myagedcare.gov.au/find-a-provider/
My Aged Care website: https://www.myagedcare.gov.au/assessment/apply-online
Support at Home program: https://www.myagedcare.gov.au/aged-care-programs/support-at-home-program
Aged Care Star Ratings: About Star Ratings | Star Ratings for residential aged care | Australian Government Department of Health, Disability and Ageing
My Aged Care website: https://www.myagedcare.gov.au/assessment/apply-online
The way and amount in which people are charged for Residential Care changes from 1 November 2025. More information is available here: https://www.health.gov.au/resources/publications/response-to-the-aged-care-taskforce-residential-care-contributions
My Aged Care: https://www.myagedcare.gov.au/
Financial Planning Association of Australia: Financial Advice Association Australia
Financial Advisers Register: Make sure any financial adviser you engage is listed on the Financial Advisers Register and has the appropriate qualifications to suite your requirements. Financial advisers register – Moneysmart.gov.au
SMSF Association: If you are wanting advice around Self-Managed Super Funds, ensure you seek a professional who is a member of SMSFA. Home – SMSF Association and Find a Specialist – SMSF Association
Aged Care: Need more advice, seek a specialist Aged Care accredited specialist. Aged Care Steps and Find an adviser Archive – Aged Care Steps
Sorted quiz: you can access it at the following link: https://sorted.org.nz/tools/money-personality-quiz
You can find out more about the McCrindle research here: https://www.moneyandlife.com.au/retirement/means-retire-live-dream/
The 2023 US study, conducted by the Transamerica Center for Retirement Studies is available here: https://transamericainstitute.org/docs/default-source/research/life-in-retirement-preretirees-expectations-retiree-realities-report-september-2023.pdf
Contact / Enquiry
If you’d like support applying the ideas in the book to your own situation, or have questions about retirement planning, we’re here to help.
Please provide details of your enquiry via the contact form and our team will respond to your query.
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Alternatively, we welcome you to contact us directly:
JBS Financial Strategists
PO Box 7441
Melbourne Victoria 3004
Telephone: (03) 8677 0688