Stats & Facts
Superannuation Rates and Thresholds
Superannuation Guarantee (SG) Rate
|
Income year |
SG Rate |
|
2024/25 |
11.5% |
Annual concessional contributions cap limit
|
Income year |
Cap |
|
2024/25 |
$30,000 |
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 together with associated earnings.
Annual non-concessional contributions cap limit
|
Income year |
Superannuation balance prior year < $1.9 million |
|
2024/25 |
$120,000 |
Non-concessional contributions in excess of the non-concessional contributions cap can be withdrawn from super with any associated earnings.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 plus tax penalties.
Non-concessional contributions cap – bring forward rule
If you are under 75 years of age for at least one day of the financial year and your superannuation balance is no more than $1.66 million, you can bring forward two years’ worth of contributions. The following table shows the maximum you can bring forward when superannuation balances are above $1.66 million.
|
Total superannuation balance prior year |
Maximum non-concessional contribution cap | Bring-forward period |
|
< $1.66 million |
$360,000 | 3 years |
|
$1.66 million < $1.78 million |
$240,000 | 2 years |
|
$1.78 million < $1.9 million |
$120,000 | Nil |
|
$1.9 million + |
Nil | Nil |
Maximum superannuation contribution base
|
Income year |
Per quarter |
Annualised |
|
2024/25 |
$65,070 |
$260,280 |
Co-contribution income thresholds
|
Income year |
Lower income threshold |
Upper income threshold |
|
2024/25 |
$45,400 |
$60,400 |
For the 2024/25 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 |
Minimum pension |
Temporary reduction* |
|
55-64 |
4% |
2% |
|
65-74 |
5% |
2.5% |
|
75-79 |
6% |
3% |
|
80-84 |
7% |
3.5% |
|
85-89 |
9% |
4.5% |
|
90-94 |
11% |
5.5% |
|
95 or older |
14% |
7% |
*Please note: The Government temporarily reduced the minimum drawdown requirements for account-based pensions and similar products by 50% for the 2019/20 to 2022/23 financial years. From the 2023–24 financial year onwards, the 50% reduction in the minimum pension drawdown rate will no longer apply.
Low-rate cap amount for super lump sum payments
|
Income year |
Cap |
|
2024/25 |
$245,000 |
Capital Gains Tax (CGT) cap lifetime limit available to eligible small businesses on sale of active assets.
|
Income year |
Cap |
|
2024/25 |
$1.782 million |
Tax-free part of genuine redundancy payments
|
Income year |
Base limit |
For each complete year of service |
|
2024/25 |
$12,524 |
$6,264 |
Superannuation Contributions Tax
|
Income year |
Concessional Contributions Tax Rate if income < $250,000 |
Concessional Contribution Tax Rate if income > $250,000 |
|
2024/25 |
15% |
30% |