Kate O'BrienFrom 1 July 2021, superannuation contribution caps will increase due to indexation – a positive change that allows for greater superannuation amounts.

  • The concessional contribution cap is set to increase from $25,000 p.a. to $27,500 p.a.
  • The standard non-concessional contribution cap is calculated as four times the concessional contributions cap, so is set to increase from $100,000 to $110,000.
  • The maximum amount a member who was under 65 at the start of the year can contribute under the non-concessional contribution cap bring-forward rule will increase from $300,000 to $330,000.
  • The $1.6m non-concessional cap threshold is also changing to $1.7m.

If you have any questions about your superannuation caps or whether these changes affect you, please do not hesitate to call me on (02) 9908 9888.