Super Contribution Caps Will Increase From 1 July 2021

Super Contribution Caps Will Increase from 1July 2021

Super Contribution Caps Will Increase From 1 July 2021

The ATO has confirmed that, from 1 July 2021, the superannuation concessional and non-concessional contribution caps will be indexed.

The new caps for the 2021/22 year will be:

Concessional Cap:     $27,500

Non-Concessional cap:  $110,000 (or $330,000 over 3 years)

The total superannuation balance limit that determines if an individual has a non-concessional contributions cap of nil will also increase from $1.6 to $1.7 million, effective from 1 July 2021.

DO YOU NEED HELP WITH SUPERANNUATION?

CALL (08) 9248 8124 NOW OR SIMPLY FILL IN THE FORM BELOW

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