As a healthcare professional, your focus is often on patients—not your superannuation. But with significant changes to Australia’s super rules coming into effect from 1 July 2025, now is the time to take action to ensure your financial future is on track.

Key changes include an increase to the superannuation guarantee rate, rising from 11% to 11.5%, and adjustments to contribution caps. For doctors operating in both public and private sectors, or those running their own practices, these shifts can have a direct impact on retirement strategies.

If you're earning a higher income, the concessional (pre-tax) contributions cap will still be critical. Contributions above this cap could attract additional tax, so working with a financial planner to structure your salary and contributions wisely is essential. For example, using a salary sacrifice strategy or making personal deductible contributions can help maximise tax efficiency.

Additionally, the government’s First Home Super Saver Scheme (FHSSS) may be beneficial for younger professionals. This allows you to use your super to save for a home deposit—something many junior doctors overlook.

Beyond compliance, these changes are an opportunity to revisit your financial plan. Are your investments aligned with your goals? Is your insurance structured correctly within your super? These are questions worth asking as rules evolve.

At AMA Financial Planning, we specialise in helping doctors and healthcare workers navigate complex financial issues. From superannuation and wealth building to retirement planning, our advice is tailored to your profession and your future.