Will the Concessional Contributions Cap Increase?
The Annual Concessional Contribution Cap Will Increase on 1 July 2021 from $25,000 to $27,500. Non-Concessional Contributions Are Contributions That Are Made...
The annual concessional contribution cap will increase on 1 July 2021 from $25,000 to $27,500. Non-concessional contributions are contributions that are made into your super fund after tax is paid. The annual non-concessional contribution cap will also increase on 1 July 2021 from $100,000 to $110,000.
What is the concessional contributions cap for 2020?
From 1 July 2021, the general concessional contributions cap is $27,500 for all individuals regardless of age. For the 2017-18, 2018-19, 2019-20 and 2020-21 financial years, the general concessional contributions cap is $25,000 for all individuals regardless of age.
What is the maximum superannuation contribution for 2021?
For 2021/22 the maximum superannuation contribution base is $58,920 per quarter. An employer does not have to pay super guarantee for the part of earnings above this limit.
Maya is a hardware enthusiast who tests and reviews smart home devices, smartphones, wearables, and audio gear. She focuses on practical consumer value and build quality.
