Note: The Superannuation Guarantee rate for the 2016/2017 year is 9.5% (from 1 July 2016 to 30 June 2017). Effective since 1 July 2014, the SG rate increased to 9.5% (from the 9.25% that applied for the 2013/2014 year). The SG rate will now remain at 9.5% from 1 July 2014 through to 30 June 2021, … [Read more...]
Superannuation Guarantee: What is the maximum SG employers must pay?
Q: I am earning a salary of $200,000 plus super. I am aged 42. I understand a maximum contribution level applies based on a 9.5% SG contribution, before the balance up to $30K limit can be made on a salary sacrifice basis. Can you please confirm what the maximum SG contribution is allowed to be for … [Read more...]
Superannuation rates and thresholds for 2016/2017 year (and earlier years)
SUPER ALERT! On 3 May 2016, the federal government announced an IMMEDIATE cut to the non-concessional contributions cap, including a cessation of the bring-forward rule. Australians are now subject to a lifetime non-concessional cap of $500,000, rather than the annual cap of $180,000 (and the … [Read more...]
Upper limit on SG contributions (for 2016/2017 year, and for previous years)
Note: This article explains the maximum superannuation contribution base for the 2016/2017 year, for the 2015/2016 year, and for previous years.The maximum superannuation contribution base is used to determine the maximum Superannuation Guarantee (SG) contribution that an employer is required to … [Read more...]
