Stats & Facts
Superannuation Rates and Thresholds
Superannuation Guarantee (SG) Rate
|
Income year |
SG Rate |
|
2019/20 |
9.50% |
Concessional contributions cap
|
Income year |
Cap |
|
2019/20 |
$25,000 |
Concessional contributions that exceed the cap, will be included in assessable income and taxed at the individual’s marginal tax rate less 15% tax already paid plus penalties.
Non-concessional contributions cap
|
Income year |
Superannuation balance prior year < $1,600,000 |
Superannuation balance prior year > $1,600,000 |
|
2019/20 |
$100,000 |
Nil |
Non-concessional contributions in excess of the non-concessional contributions cap can be withdrawn from super with any associated earnings. These earnings will be taxed at the individual’s marginal tax rate less 15% tax already paid plus tax penalties.
Non-concessional contributions cap – bring forward rule
If you are under 65 years of age for at least one day of the financial year and your superannuation balance is no more than $1,400,000, you can bring forward two years’ worth of contributions. The following table shows the maximum you can bring forward when superannuation balances are above $1,400,000.
|
Total superannuation balance prior year |
Maximum non-concessional contribution cap | Bring-forward period |
|
Less than $1,400,000 |
$300,000 | 3 years |
|
$1,400,000 - $1,499,999 |
$200,000 | 2 years |
|
$1,500,000 - $1,599,999 |
$100,000 | Nil |
|
More than $1,600,000 |
Nil | Nil |
Maximum superannuation contribution base
|
Income year |
Per quarter |
Annualised |
|
2019/20 |
$55,270 |
$221,080 |
Co-contribution income thresholds
|
Income year |
Lower income threshold |
Upper income threshold |
|
2019/20 |
$38,564 |
$53,564 |
For the 2019/20 year the co-contribution matching rate is 50% of the eligible non-concessional (after-tax) contributions that you make. The maximum co-contribution that you can receive is $500. It gradually phases out by 3.333 cents per dollar over the lower income threshold.
Minimum annual payments for account-based pension
|
Age |
2019/20 minimum pension |
|
55-64 |
4% |
|
65-74 |
5% |
|
75-79 |
6% |
|
80-84 |
7% |
|
85-89 |
9% |
|
90-94 |
11% |
|
95 or older |
14% |
Low-rate cap amount for super lump sum payments
|
Income year |
Cap |
|
2019/20 |
$210,000 |
Capital Gains Tax (CGT) cap lifetime limit available to eligible small businesses on sale of active assets.
|
Income year |
Cap |
|
2019/20 |
$1.515 million |
Tax-free part of genuine redundancy payments
|
Income year |
Base limit |
For each complete year of service |
|
2019/20 |
$10,638 |
$5,320 |
Superannuation Contributions Tax
|
Income year |
Concessional Contributions Tax Rate if income < $250,000 |
Concessional Contribution Tax Rate if income > $250,000 |
|
2019/20 |
15% |
30% |