Better Targeted Superannuation Concessions - Australian Taxation …

Aug 13, 2024 · From 1 July 2025 tax concessions will be reduced for certain earnings for superannuation balances above $3 million. On 28 February 2023, the Australian Government announced from 1 July 2025 a 30% concessional tax rate will be applied to future earnings for …

CouponFollow Extension

30%
OFF

Better Targeted Superannuation Concessions - Australian Taxation …

1 week from now

ato.gov.au

$3
OFF

Superannuation Update: Tax Cap Increased For Superannuation …

1 week from now

Feb 28, 2023 · Prime Minister Anthony Albanese said from July 1 2025, Australians who have a superannuation balance over $3 million will be taxed at a concessional rate of 30 per cent, up …

9news.com.au

15%
OFF

Superannuation Update: Proposed $3 Million Superannuation Cap …

1 week from now

From 1 July 2025, the Government has proposed an ‘additional’ tax of 15% on earnings on an individual's superannuation benefits over $3 million at the end of a financial year. This …

pwc.com.au

5%
OFF

Superannuation Changes - Federal Budget 2024-25

1 week from now

From 1 July 2024, the SG rate for employers to pay on behalf of eligible employees is 11.5%. There will be a final increase of 0.5% on 1 July 2025 to 12%. The increases aim to reduce …

australiansuper.com

11%
OFF

Super Guide For The 2024-25 Financial Year - SuperGuide

1 week from now

Superannuation guarantee increases from 11% to 11.5%; Concessional contributions cap increases to $30,000; Non-concessional contributions cap increases to $120,000; …

superguide.com.au

$110000
OFF

Contribution Cap Increases: Issues To Consider - SuperGuide

1 week from now

Mar 28, 2024 · Non-concessional contributions made during the current financial year are capped at $110,000. This cap increases to $120,000 per year from 1 July 2024. So if your TSB is …

superguide.com.au

$3
OFF

Superannuation Tax Changes Will Not Be Indexed, Says Treasurer.

1 week from now

Mar 2, 2023 · As part of the proposed changes, the tax rate on earnings will double to 30 per cent for super balances above $3 million. It's initially likely to affect just 0.5 per cent of Australians …

abc.net.au

$450
OFF

Superannuation Changes - 2024/2025 New Rules - Industry Super

1 week from now

Changes include Super Guarantee increase, removal of $450 threshold and increase to contribution caps. ... This change is expected to benefit approximately 180,000 parents each …

industrysuper.com

$1
OFF

Total Superannuation Balance - Australian Taxation Office

1 week from now

Bring-forward non-concessional contributions cap. If your TSB is below the general transfer balance cap ($1.7 million from 2021–22, $1.9 million from 2023–24) on 30 June of the …

ato.gov.au

12%
OFF

Superannuation Changes 2024/2025 - Industry Super

1 week from now

Maintaining the increase to the super guarantee. The May 2024 Federal Budget maintained the Super Guarantee's legislated increase to 12%. On 1 July 2024 the Super Guarantee increased …

industrysuper.com

$5
OFF

Changes To Superannuation Are Being Floated By The Federal …

1 week from now

Feb 22, 2023 · "Those members aged 65 or older with a total superannuation balance as at 1 July 2023 in excess of $5 million … should be required to withdraw the excess out of …

abc.net.au

FAQs about Better Targeted Superannuation Concessions - Australian Taxation … Coupon?

When will superannuation contribution caps increase?

The annual superannuation contribution limits, referred to as ‘contribution caps’, are set to increase from 1 July 2024. These caps are subject to indexation in line with average weekly ordinary time earnings (AWOTE) and from 1 July 2024, we will see an increase in both the concessional and non-concessional contribution caps as follows: ...

When will superannuation tax concessions be reduced?

From 1 July 2025 tax concessions will be reduced for certain earnings for superannuation balances above $3 million. On 28 February 2023, the Australian Government announced from 1 July 2025 a 30% concessional tax rate will be applied to future earnings for superannuation balances above $3 million. This measure is not yet law. ...

What is the maximum superannuation contribution base?

The maximum superannuation contribution base is $65,070 each quarter for the 2024–25 financial year. From 1 July 2024, the SG rate for employers to pay on behalf of eligible employees is 11.5%. There will be a final increase of 0.5% on 1 July 2025 to 12%. ...

When will my TSB increase if my superannuation balance exceeds $3 million?

From 1 July 2025, where a member’s total superannuation balance exceeds $3 million, an increase in their TSB at the end of the relevant financial year (as adjusted for withdrawals and contributions) will be assessed to them personally as ordinary income. ...

How much will Australia's Superannuation increase on 1 July 2025?

There will be a final increase of 0.5% on 1 July 2025 to 12%. The increases aim to reduce financial pressure on the Age Pension, to help off-set Australia’s ageing population and improving financial outcomes at retirement. The maximum superannuation contribution base is $65,070 each quarter for the 2024–25 financial year. ...

Can You boost your superannuation savings this year?

From July 1 this year, you may be able to boost your superannuation savings and have more for retirement because the contribution caps are going up. Last week, the Average Weekly Ordinary Times Earnings (seasonally adjusted to November 2023) figure was released, and it was high enough for the concessional contributions cap to be indexed. ...