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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