Learn how super contributions are treated as before-tax or after-tax, and the tax and restrictions that apply. Find out about contribution caps, Division 293 tax, personal injury and CGT exclusions, and more.
Learn how the transfer balance cap, concessional and non-concessional contributions caps, and other super rules will change from 1 July 2025. Find out the opportunities and considerations for your contribution planning in 2024-25 and beyond.
Concessional super contributions are taxed at the special low rate of 15% (if your income plus concessional contributions is under $250,000) to help you save for your retirement. For many people, this tax rate is lower than the marginal or top tax rate they pay on their income.
Find out the latest superannuation rates and thresholds for the 2025-26 financial year, including the concessional contributions cap, the transfer balance cap, the superannuation guarantee rate and more. Learn how these changes affect your financial planning and compliance with superannuation regulations.
Find out the current and future concessional contribution caps for superannuation in Australia, as well as the rules for carry forward and excess contributions. Learn how to optimize your tax benefits and avoid penalties with professional advice.
Learn the maximum amounts you can contribute to super as concessional or non-concessional contributions in 2025, and the exceptions and rules that apply. Find out how to avoid excess contributions tax and penalties, and how to use carry-forward and bring-forward rules.
The concessional contributions cap - or the amount of extra money you can add to your super balance for the year and retain the tax discount - will remain at $30,000 from 1 July 2025. This also impacts the concessional contributions that can be made under the so-called 'five-year carry forward' rules by those with a total super balance of less ...
Learn about the limits on how much you can contribute to your super each financial year, and how to carry forward or bring forward your unused caps. Find out what happens if you exceed your concessional or non-concessional contributions cap, and how to manage your contributions online.
In August 2023, Brian made a non-concessional contribution into his super account of $300,000. ... 2025/2026, if he wishes to use up his full $330,000 three-year cap. In the 2026/2027 financial year, Brian's non-concessional contributions cap will be reset, and he can make further non-concessional contributions up to the normal annual ...
The 6 monthly AWOTE rate was released on 22 February and results in the concessional contribution cap increasing to $30,000 for the 2025 financial year. The change in this cap also flows through to the following for 2025: Non-concessional cap – increases from $110,000 to $120,000; Non-concessional bring forward maximum – increases from ...
Non-Concessional Contributions Non-concessional contributions are made after tax has been paid and are not taxed in the super fund. The annual cap for non-concessional contributions is $120,000 (as of the 2024–25 financial year). ... 2025. As of July 1, 2025, Super guarantee will increase from 11.5% to 12% ...
Your concessional contribution cap. 2025–26. n/a. All ages. $30,000. 2024–25. n/a. All ages. $30,000. 2023–24. n/a. All ages. $27,500. 2022–23. n/a. All ages. $27,500. 2021–22 ... you can during your lifetime, exclude non-concessional super contributions from your non-concessional contributions cap up to the CGT cap amount. The CGT ...
The new concessional contribution cap for the 2025 financial year will increase from $27,500 to $30,000. ... Understanding the adjustments to concessional and non-concessional caps is crucial for making informed decisions about super contributions and ensuring alignment with your retirement objectives. By staying informed and proactive, our ...
If you have an SMSF and are doing your tax planning, looking for ways to reduce large profits in your business, or if you had a large capital gain this financial year, remember to take these new caps into consideration if you are looking to use 2025 years concessional cap to make additional contributions to claim more tax deductions in this financial year.
The concessional contributions tax rate on super is 15%. For higher income earners with income over $250,000, the rate is 30%. Superannuation contributions tax rules within limits provide a legal way to shield income from tax at normal rates, and build up retirement savings in the lower-taxed environment of a super fund.. Tax Increase On Funds Over $3 million Proposed From 1 July 2025
Super guarantee (SG) rate increasing from 11% to 11.5% (Jul 2024) Increases to concessional and non-concessional contribution caps (Jul 2024) Another increase to the SG rate from 11.5% to 12% (Jul 2025) Super to be paid on top of Parental Leave Pay from the government (Jul 2025)
The non-concessional (after tax) contributions cap for 2024/25 is $120,000 p.a. - or under certain criteria $360,000 over three years. These contributions are voluntary payments to your super that aren't claimed as a tax deduction and are not taxed when paid to your super. But your total super balance must be less than $1.9 million.
The current SG rate is 11.5% of your pre-tax salary; from 1 July 2025, this will increase to 12%. SG contributions are compulsory for all employees over the age of 18, regardless of the hours worked or income earned. ... Concessional super contributions. Concessional contributions are any contribution which you may be eligible to claim a tax ...
