Business Insurance Overview
23/07/2025
12 Stirling Highway
Nedlands WA 6009
Superannuation
Saving through the superannuation environment can be a tax effective means of accumulating wealth for retirement.
We can work with you to develop a range of superannuation strategies, designed to improve your superannuation savings balance on retirement or minimise tax in the lead up to it, considering:
- Concessional and non-concessional superannuation contributions
- Spouse contributions
- Re-contributions
- Division 293 tax
- Small business CGT contributions
- Downsizer contributions
- GESB Superannuation
We have the experience and knowledge required to assist with State Government Superannuation Schemes, whether untaxed or defined benefit.
We can help design strategies that allow you to take advantage of the unique features these funds offer.
Why is superannuation important?
“Many of us will spend more than a quarter of our life retired, as people are now living until an average age of 81.2 years (if you’re male) and 85.3 years (if you’re female). Life expectancy is expected to rise to 91 for males and 93 for females by 2050.
So, you might need a lot more money for your retirement than you think. Unless you’re counting on a lotto win or growing your own personal money tree, super can help you enjoy your retired days by allowing you to maintain a good standard of living, which isn’t achievable by receiving just the Age Pension.”
-Association of Superannuation Funds Australia (ASFA)
How does superannuation work?
Superannuation is treated differently to most other savings. For most people, super will be taxed at a lower rate than a similar investment outside super. If you’re self-employed, you may be able to claim a tax deduction for personal contributions you make to super.
What your employer does
If you’re entitled to receive super, by law, your employer must pay your superannuation contributions into your super fund at least every 3 months.
What your super fund does
Once your superannuation fund receives your contributions it invests this money either in a default strategy or one you have chosen yourself. Fees charged by the super funds may include general fees such as administration, member and investment, as well as optional extras including adviser fees and insurance premiums.
Your role
It is important you keep an eye on your superannuation payments and balance to ensure your money is working as hard as it can for your retirement.
If you are self-employed, you are responsible for making your own superannuation contributions.
How we can help?
The team at AMA Financial Planning can help you understand, grow and manage your superannuation.
We can help you:
- Consolidate your super funds and help you save on fees
- Identify investment options tailored to your goals and risk profile
- Review your concessional and non-concessional contributions to super
- Identify strategies to help boost your superannuation
- Enjoy the benefits of salary sacrifice
- Understand your insurance options within superannuation
- Determine if you have the correct beneficiary nominations in place
- Determine whether a self-managed super fund (SMSF) is right for you.
How to find your lost super?
If you think you may have lost track of your super then you have access to services to help you find your lost accounts.
This service searches the Lost Members Register and other ATO records, such as ATO-held super accounts and unclaimed super money, for your lost super accounts. You can also use the phone service (13 28 65).
You can use the ATO’s myGov service to see details of all your super accounts, including any you have lost track of or forgotten about. You will need to create a myGov account and then link your account to the ATO service.
Previous employers
Ask your previous employers for the names of the super funds that received contributions on your behalf.
To discuss your Superannuation needs please contact one of our qualified Financial Advisers at AMA Financial Planning or phone on 1800 262 346.
Frequently Asked Questions
How do you help healthcare professionals optimise their super over time?
We work with healthcare professionals to maximise their superannuation savings over the long term. This could be by developing superannuation contribution strategies (salary sacrifice, personal contributions, or spouse contributions), managing super balances against the applicable superannuation balance caps, including those that apply to GESB West State, reviewing the underlying superannuation investment portfolio or evening up super account balances with your spouse.
How does superannuation work with irregular medical income?
When income is irregular, employer superannuation contributions may be, too. Where this is the case, or where you are self-employed, we may need to consider whether there is any benefit in making a ‘top up’ superannuation contribution toward the end of the financial year, as opposed to making regular contributions throughout the year.
Should I set up a self-managed super fund (SMSF)?
Self Managed Superannuation Funds can provide a great vehicle for the investment of your retirement savings base.Such a structure can offer a greater degree of flexibility, investment choice (including property or business property) and control. However, a Self Managed Superannuation Fund is not right for everyone, disadadvantages include the legislative and administrative burden, the fact that the trustees are solely responsible for ensuring Fund compliance, and potentially significant accounting, administration and audit costs.
What are the superannuation contribution limits for high-income earners?
High income earners are subject to the same superanuation contribution caps as everyone. Where income exceeds $250,000 pa, Division 293 tax will also apply, which increases the superannuation contributions tax rate by an additional 15%, to 30%.
I'm a public practitioner, what unique benefits and opportunities does my GESB West State provide?
GESB West State Super is a constitutionally protected, untaxed superannuation scheme. The fund offers unique features and flexibilities, particularly in terms of super contributions that can be made. More detail is contained in an article available on our website at
Super Contribution Strategies for the Medical Profession
How does superannuation impact my retirement planning?
Superannuation is a tax effective means of saving for your eventual retirement. Increasing the contributions made to superannuation as well as ensuring the investment of your superannuation savings are appropriate, will drive long term growth and dictate the outcome on retirement. When you do retire, it is important that your asset base is appropriately, tax effectively, structured and is able to generate a sustainable retirement income, to replace the salary you will no longer receive after ceasing work.
What tax benefits can doctors receive from super contributions?
Concessional contributions can be a tax effective means of saving for retirement. Doctors are able to make a concessional contribution up to the maximum cap, currently $30,000 pa, via salary sacrifice or a voluntary deductible contribution. It is important to note, that employer superannuation contributions count toward the cap, and if you are making a voluntary contribution, a notice of intent to claim a tax deduction should also be lodged with your superannuation fund within prescribed timeframes. In some cases, you may be able to carry forard unused concessional cap amounts from previous years.
