Superannuation
Superannuation Contribution Caps
Superannuation Guarantee increases to 11.0% on the 1st July 2023.
Continues to increase each year by 0.5% to the 1st July 2025.
Applies to the first payroll payment made from 1st July 2025.
Annual concessional contribution cap remains at $27,500(2023/24) & $30,000 (2024/25)
Per quarter maximum contribution base increases to $62,270 (2023/24) & $65,070 (2024/25)
|
Period |
General Super guarantee (%) |
|
|
1July 2022 – 30 June 2023 |
10.5% |
|
|
1 July 2023 – 30 June 2024 |
||
|
1 July 2024 – 30 June 2025 |
11.50% |
|
|
1 July 2025 – 30 June 2026 |
12.00% |
|
|
1 July 2026 – 30 June 2027 |
12.00% |
|
|
1 July 2027 – 30 July 2028 Onwards |
12.00% |
|
Disclaimer: This blog post is for informational purposes only and does not constitute legal advice. Consult with legal professionals for personalized guidance based on your specific circumstances.