This page gives you a list of super and retirement-related rates, thresholds and caps that are indexed in line with rising prices, or indexed in line with average weekly earnings. Indexation is a system of varying an amount (e.g. a benefit, wages, prices) in line with the movement of an appropriate index. Indexing to the Consumer Price Index (CPI), for example, means an amount rises in line with prices generally and, therefore, maintains its purchasing power (or real value).
Many of the rates and thresholds listed in the table below are indexed on 1 July in line with movements in Average Weekly Ordinary Time Earnings (AWOTE). Other rates or caps are indexed periodically, although the Age Pension rates are indexed twice yearly. Each rate or threshold has a reference to its relevant chapter in my book Superannuation For Dummies 2nd edition (Wiley) for an explanation of how each rate or threshold works. Alternatively, you can visit the websites listed in the table to check for the latest figures and for more information.
| |||
| Rate or Threshold | Indexed | Chapter |
|
| Age Pension | Six-monthly | 20 | www.centrelink.gov.au |
| Age Service Pension | Six-monthly | 20 | www.centrelink.gov.au |
| Age Pension Bonus | Six-monthly | 20 | www.centrelink.gov.au |
| Assets test threshold (lower) | Annually | 20 | www.centrelink.gov.au |
| Capital gains tax cap | Annually | 11 | www.ato.gov.au/super |
| Co-contribution Scheme income thresholds | Annually | 11 | www.ato.gov.au/super |
| Concessional contributions cap | Periodically, in $5,000 increments | 6 & 11 | www.ato.gov.au/super |
| Deeming rates for income test | Periodically | 20 | www.centrelink.gov.au |
| Deeming thresholds for income test | Annually | 20 | www.centrelink.gov.au |
| ETP cap | Annually, but in $5,000 increments | 12 | ww.ato.gov.au/super |
| Genuine redundancy tax-free amounts | Annually | 12 | www.ato.gov.au/super |
| Income test threshold (lower) | Annually | 20 | www.centrelink.gov.au |
| Low Income Tax Offset | Periodically | 19 | www.ato.gov.au |
| Low rate cap | Annually | 18 | www,ato.gov.au/super |
| Lower transitional ETP cap | Annually, but in $5,000 increments | 12 | www.ato.gov.au/super |
| Marginal tax rates | Periodically | 12 &18 | www.ato.gov.au |
| Maximum Superannuation Contribution Base | Annually | 6 | www.ato.gov.au/super |
| Medicare Levy | Annually | 12 | www.ato.gov.au |
| Medicare Levy (Seniors) | Annually | 19 | www.ato.gov.au |
| Non-concessional contributions cap | Periodically, in $15,000 increments | 6 & 11 | www.ato.gov.au/super |
| Senior Australians Tax Offset | Periodically | 19 | www.ato.gov.au |
| Untaxed Plan Cap | Annually | 18 & 19 | www.ato.gov.au/super |
Source: Extract from Trish Power’s book Superannuation For Dummies 2nd edition ($39.95). Reproduced with permission.
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