We summarise some of the key superannuation rates and thresholds for the upcoming financial year:
Contributions
| Concessional contributions cap |
$25,000 |
| Non-concessional contributions cap |
$100,000* |
| CGT cap amount |
$1,480,000 |
| Super guarantee percentage |
9.5% |
| Maximum contribution base (per quarter) |
$54,030 |
* 300,000 for a “bring forward” arrangement
Government co-contributions
| Lower income threshold |
$37,697 |
| Higher income threshold |
$52,697 |
Superannuation payments
| Lump sum low rate cap |
$205,000 |
| Untaxed plan cap |
$1,480,000 |
| ETP cap amount |
$205,000 |
| Genuine redundancy and early retirement payments – tax-free amounts: |
|
|
|
$10,399 |
|
|
$5,200 |
Pension cap
| General transfer balance cap |
$1,600,000 |
| Defined benefit income cap |
$100,000 |
| “Total superannuation balance” threshold |
$1,600,000 |
