Superannuation Contributions Caps, SGC and Co-Contributions

26 Jun 15

Superannuation Contributions Caps - Concessional

Income Year  Cap 49 years and over at 30/06/15 Cap younger than 49 years at 30/06/16
 2014-15 $35,000 $30,000
 2015-16 $35,000 $30,000

Any concessional contributions in excess of the cap also count towards the person's non-concessional contributions cap.

Superannuation Contributions Caps - Non-Concessional

Income Year  2014-15           2015-16         
Single Year Cap $180,000       $180,000     
Bring-forward cap for individuals aged under 65*   $540,000 $540,000

*A bring-forward rule allows individuals under 65 years of age to make non-concessional contributions of up to three times their non-concessional contributions cap over a three year period and is based on the cap of the first year in which the rule applies.

Superannuation Guarantee Charge

Year           SG Rate        
2013-14 9.25%
2014-15 9.50%
2015-16 9.50%

Government Super Co-Contributions Rates

Taxable Income  2014-15      2015-16     
Lower Threshold $34,488         $35,454       
Upper Threshold $49,488  $50,454
Maximum Contribution      $500       $500
Matching Contributions     $0.50      $0.50

To be elegible ,the taxpayer must earn 10% or more of their total income from employment or carrying on a business (or a combination of both)

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