u/CFAF800

My base pay is 180k including super with a 15% bonus component so my employer super is at $22250.

My employer also gives me 1% extra super if I pay 3% or more so I do the math and add 5% usually so that it reaches $30k,/$32.5k I know that 1% doesnt add to the $30k/$32.5k but its around $2k of free money which will compound so why not.

We have an IP where we lived for 3.5 years before moving out 2 years ago which we want to sell this year to go mortgage free. The approx CGT I would have to pay would be $35k each, my thinking is if I drop that $35k into super then I only have to pay 15% tax instead of 47% on the majority.

The thing is I only have $25k left in carry forward super contributions so do I stop the voluntary super now and use the balance to cover the lump sum or it doesnt matter as I pay the same amount anyways??

I have tried doing the math but I keep getting confused.

TIA

Edit: Apparently the extra 1% counts towards the concessional cap, I thought it didnt .

I posted this in the AusHenry subreddit but wanted to get a perspective from the FI community as well.

We are a Dual income no kids couple, 43M/46F.

Current HHI - 407K after maximizing super contributions.

Assets:

PPOR - Worth $1.8M, $1M owing, $300k in offset

IP: Worth $1.3M, $545k owing, bought in Nov 2020, stayed till July 2024 before moving into the current PPOR.

Combined super balance - $300k, I know its less but we have been here only 6 years and we are playing catch up.

ETF'S - $100K, steadily rising.

Expenses : $9.7k housing payments + $7k monthly expenses including vacations.

Current PPOR is forever home but a bit surplus to our needs, will probably move to an apartment when we get into late 60s probably - would depend on other factors like health.

Main issue at hand - Wife started a Director position at state govt 2 years ago but she is not happy. She doesnt want to quit either but I have been trying to convince her to quit as she is miserable.

She has been looking but its slim pickings, she is also going through peri menopause which is adding more to her misery.

If we were to sell the IP , we would have $1.05 M after paying everything like an agent commission, bank loans, putting money into super as we have a bit carry forward contributions left over.

We would become mortgage free that would leave us with a surplus of $200k in cash every year.

I intend to keep money in the offset account till we have 1.5 times of the loan amount before closing out the loan.

I dont mind working as I really love my job and I dont really want to retire early but my wife wants to retire in 10 years.

am also due for a 10% hike this year, so our HHI would drop to $370k because of the loss in rental income.

My initial plan was to invest heavily in ETF's and nake steady withdrawals when we do retire to keep it under the tax threshold, but with the budget changes I want to pivot to the below approach:

$50k in savings:

$75k into super as non-concessional contributions

$75k into ETFs

I dont really want to buy any property, if we do want to buy an apartment, we will sell our current PPOR and buy it with cash.

We also want to live in Europe for a year hence having money in ETF's so it can be liquidated for the Europe trip.

Any suggestions are welcome

We are a Dual income no kids couple, 43M/46F.

Current HHI - 407K after maximizing super contributions.

Assets:

PPOR - Worth $1.8M, $1M owing, $300k in offset

IP: Worth $1.3M, $545k owing, bought in Nov 2020, stayed till July 2024 before moving into the current PPOR.

Combined super balance - $300k, I know its less but we have been here only 6 years and we are playing catch up.

ETF'S - $100K, steadily rising.

Expenses : $9.7k housing payments + $7k monthly expenses including vacations.

Current PPOR is forever home but a bit surplus to our needs, will probably move to an apartment when we get into late 60s probably - would depend on other factors like health.

Main issue at hand - Wife started a Director position at state govt 2 years ago but she is not happy. She doesnt want to quit either but I have been trying to convince her to quit as she is miserable.

She has been looking but its slim pickings, she is also going through peri menopause which is adding more to her misery.

If we were to sell the IP , we would have $1.05 M after paying everything like an agent commission, bank loans, putting money into super as we have a bit carry forward contributions left over.

We would become mortgage free that would leave us with a surplus of $200k in cash every year.

I intend to keep money in the offset account till we have 1.5 times of the loan amount before closing out the loan.

I dont mind working as I really love my job and I dont really want to retire early but my wife wants to retire in 10 years.

am also due for a 10% hike this year, so our HHI would drop to $370k because of the loss in rental income.

My initial plan was to invest heavily in ETF's and nake steady withdrawals when we do retire to keep it under the tax threshold, but with the budget changes I want to pivot to the below approach:

$50k in savings:

$75k into super as non-concessional contributions

$75k into ETFs

I dont really want to buy any property, if we do want to buy an apartment, we will sell our current PPOR and buy it with cash.

We also want to live in Europe for a year hence having money in ETF's so it can be liquidated for the Europe trip.

Any suggestions are welcome

I am thinking of buying Argyle pink diamond earrings for my wife as they are mined here in Australia and not coming from a war zone.

I saw an online store called Nina's and they have a pretty one at abt $1500, I would like to know if there is any physical store in the Brisbane area which sells them.

My budget is around $2k

TIA