Superannuation, Age Pension and income tax rules for 2020-21
Happy new (financial) year!
In this special edition we’ve updated all SuperGuide articles covering the key rules, regulations, rates and thresholds for the 2020-21 financial year. We also highlight some of the key changes that take place from 1 July 2020.
Highlights include:
- SUPER RULES: While circumstances have delayed some rule changes, there are still plenty to get your head around, most of them positive. Like the removal of the work test for members wanting to make super contributions to age 67, an increase in the age limit to receive spouse contributions and a continuation of lower minimum pension drawdowns.
- SUPER CONTRIBUTIONS GUIDES: Our guides for concessional and non-concessional contributions, plus co-contributions and the Low Income Superannuation Tax Offset (LISTO) have all been updated for 2020-21.
- AGE PENSION: The assets and income tests thresholds all increase on 1 July 2020, which means that more Australians can receive a full or a higher part Age Pension.
- INCOME TAX: Learn about the income tax rates for 2020-21, including the Low Income Tax Offset (LITO), the Low and Middle Income Tax Offset (LMITO) and the Senior Australians and Pensioners Tax Offset (SAPTO).
2020-21 SUPER RULES
Superannuation rule changes from July 2026 (and previous years)
Every new super rule change explained: Payday Super, higher contribution caps, the transfer balance cap and Division 296 tax.
Key superannuation rates and thresholds for 2026-27
A new financial year brings updated thresholds for a range of super measures. Take a look at the new numbers to check for opportunities.
2020-21 SUPER CONTRIBUTIONS GUIDES
Concessional super contributions guide (2026–27)
Want to get more from your super? Start by understanding concessional contributions, the biggest and most tax-effective source of super savings.
Non-concessional super contributions guide (2026–27)
Making a personal contribution into your super can be a great way to boost your retirement nest egg and enjoy the benefits of the super system.
How the government co-contribution scheme works (including calculator)
An extra payment from the government can be a great way to boost your super if you have some money to spare.
How LISTO works (Low Income Superannuation Tax Offset)
The Low Income Super Tax Offset is a government rebate that can help boost your super and make saving for retirement a little easier.
COMING UP: Look out for our super contributions strategies coverage in SuperGuide’s July 2020 newsletter
UPDATED AGE PENSION THRESHOLDS
Age Pension assets test rules (from September 2026)
Age Pension assets test limits change three times a year, but your family home is never counted. Check the latest limits and what else is included.
Age Pension income test rules (from September 2026)
A common question for those nearing or in retirement is “How much can a pensioner earn before it affects the pension?”.
INCOME TAX RATES FOR 2020-21
Australian income tax brackets and rates (2026-27 and previous years)
See every Australian income tax bracket and rate for 2026-27. Clear tables, plain-English explanation, and previous years for comparison.
How does SAPTO work? (Senior Australians and Pensioners Tax Offset)
Eligible pensioners could be in for a small but welcome financial sweetener come tax time, thanks to this little known tax offset.
Low Income Tax Offset (LITO): How it works
Low-income earners may be eligible to reduce their tax bill by as much as $700, without lifting a finger. Check our guide to who’s eligible and for how much.
