For the 2012/2013 year, the concessional
You can find the following caps, rates and thresholds detailed in this article:
- Maximum
- Co-contribution income thresholds
- Minimum annual
- Untaxed plan cap amount (relates to certain public sector fund benefits)
- CGT cap amount
- Tax-free part of genuine redundancy payments
Concessional contributions cap*
| Income year | Cap | Over-50s |
| 2013/2014 | $25,000 | $25,000 |
| 2012/2013 | $25,000 | $25,000 |
| Income year | Cap | Transitional cap for over-50s |
| 2011/2012 | $25,000 | $50,000 |
| 2010/2011 | $25,000 | $50,000 |
| 2009/2010 | $25,000 | $50,000 |
| 2008/2009 | $50,000 | $100,000 |
Non-concessional contributions cap*
| Income year | Cap | |
| 2012/2013 | $150,000 | $450,000 |
| 2011/2012 | $150,000 | $450,000 |
| 2010/2011 | $150,000 | $450,000 |
| 2009/2010 | $150,000 | $450,000 |
| 2008/2009 | $150,000 | $450,000 |
*We explain the contributions caps in the following articles:
- Super concessional contributions 2012/2013 survival guide
- Your 2012/2013 guide to non-concessional after-tax contributions
Maximum superannuation contribution base
| Income year | Per quarter | Annualised |
| 2012/2013 | $45,750 | $183,000 |
| 2011/2012 | $43,820 | $175,280 |
| 2010/2011 | $42,220 | $168,880 |
| 2009/2010 | $40,170 | $160,680 |
| 2008/2009 | $38,180 | $152,720 |
Co-contribution income thresholds^
| Income year | Lower income threshold | Upper income threshold |
| 2012/2013 | $31,920 | $46,920 |
| 2011/2012 | $31,920 | $61,920 |
| 2010/2011 | $31,920 | $61,920 |
| 2009/2010 | $31,920 | $61,920 |
| 2008/2009 | $30,342 | $60,342 |
^For the 2012/2013 year, the co-contribution matching rate is 50% of the non-concessional (after-tax) contributions that you make, but note that the maximum co-contribution that you can receive is $500.
Minimum annual pension (income stream) payments
| Percentage factors (PF) |
Temporary relief |
|||
| 2012/2013 year* | 2011/2012 year* | 2010/2011, and 2009/2010 and 2008/2009 years | ||
| 75% of PF | 75% of PF | 50% of PF | ||
| Age | ||||
| 55-64 | 4% | 3% | 3% | 2% |
| 65-74 | 5% | 3.75% | 3.75% | 2.5% |
| 75-79 | 6% | 4.5% | 4.5% | 3% |
| 80-84 | 7% | 5.25% | 5.25% | 3.5% |
| 85-89 | 9% | 6.75% | 6.75% | 4.5% |
| 90-94 | 11% | 8.25% | 8.25% | 5.5% |
| 95 or older | 14% | 10.5% | 10.5% | 7% |
*For the 2012/2013 year, the annual minimum pension payment factors are 75% of the usual factors.
Low-rate cap amount
| Income year | Cap |
| 2012/2013 | $175,000 |
| 2011/2012 | $165,000 |
| 2010/2011 | $160,000 |
| 2009/2010 | $150,000 |
| 2008/2009 | $145,000 |
Untaxed plan cap amount
| Income year | Cap |
| 2012/2013 | $1.255 million |
| 2011/2012 | $1.205 million |
| 2010/2011 | $1.155 million |
| 2009/2010 | $1.1 million |
| 2008/2009 | $1.045 million |
CGT cap amount
| Income year | Cap |
| 2012/2013 | $1.255 million |
| 2011/2012 | $1.205 million |
| 2010/2011 | $1.155 million |
| 2009/2010 | $1.1 million |
| 2008/2009 | $1.045 million |
Tax-free part of genuine redundancy payments
| Income year | Base limit | For each complete year of service |
| 2012/2013 | $8,806 | $4,404 |
| 2011/2012 | $8,435 | $4,218 |
| 2010/2011 | $8,126 | $4,064 |
| 2009/2010 | $7,732 | $3,867 |
| 2008/2009 | $7,350 | $3,676 |
For more information on these rates, you can use the search function (at the top right of the SuperGuide website), or you can visit the ATO website.
Compulsory SMSF Allocated Pension percentages.
Have Super Guide and other superannuation industry bodies lobbied the relevant politicians and departments to consider a tapering increase if/when Temporary Relief measures are reviewed for 2011 – 2012.
While markets and values dropped suddenly with the GFC, recovery is only very gradual for many classes of investment.
Hi Geoff
Many thanks for your comments and question. I cannot comment on any private lobbying by industry associations but my personal view is that the temporary pension relief should be extended into the 2011/2012 year.
I am hoping the Government will release some information on this issue well before the start of the 2011/2012 year indicating the Government’s position so retirees can plan ahead
Regards
Trish