Superannuation Caps and Threshold from 2021-22

Superannuation contributions cap $27,500 from 2021-22
Using the latest AWOTE details (ABS Catalogue no: 6302.0) the following superannuation rates and thresholds for 2021-22 are calculated in accordance with Subdiv 960-M of the ITAA 1997.

CONTRIBUTIONS CAPS: The concessional contributions cap is set to increase to $27,500 for the 2021-22 financial year (up from $25,000 since 2017-18). The non-concessional contributions cap (which is set at 4 times the concessional cap) is $110,000 for 2021-22 (or $330,000 under the bring-forward rule over 3 years). The CGT cap amount for non-concessional contributions is $1.615m for 2021-22 (up from $1.565m).

SUPER GUARANTEE: the “maximum contribution base” is $58,920 per quarter for 2021-22.

CO-CONTRIBUTIONS: “lower income threshold” is $41,112 for 2021-22; “higher income threshold” is $56,112.

SUPER BENEFITS: The following indexed thresholds apply for 2021-22:
Lump sum low rate cap – $225,000 (up from $215,000); untaxed plan cap – $1.615m (up from $1.565m)
ETP cap amount – $225,000 (up from $215,000)
Genuine redundancy and early retirement payments – tax-free amounts: base amount – $11,341 (up from $10,989); service amount – $5,672 (up from $5,496).