Get up-to-date with the latest changes to rates and thresholds as per below:
- Concessional contribution cap increases from $25,000 to $27,500 for 30 June 2022.
- Change in maximum contribution base to $60,220 per quarter (Previously: $58,920).
- Increase in CGT cap to $1,650,000 (2021:$1,565,000).
- Increase in cap of non-concessional contributions ($100,000 to $110,000) and amount of non-concessional contributions which can be brought forward under the 3 year rule ($300,000 to $330,000).
- Change in the Superannuation Guarantee Rate to 10.5% from 1 July 2022.
- Discontinuation of excess concessional charge from 1 July 2021.
- Increase in General transfer balance cap to $1.7m (2021:1.6m).
- From 1 July 2022, an individual under 75 years old can make or receive personal Superannuation contributions and salary sacrificed contributions (within existing contribution cap limits) without needing to meet the work test.
- From 1 July 2022, there will be an increase in the maximum releasable amount under the First Home Super Save Scheme to $50,000 (from $30,000).
- From 1 July 2022, a reduction in age for an individual to make additional non-concessional contributions from the capital proceeds on the sale of a home to 60 years old (previously 65 years old).
- Removal the $450 threshold for salary or wages to count towards the superannuation guarantee.
