capital gains tax

Sladen Snippet – Super contribution caps, rates and thresholds for 2016/17 year released

Sladen Snippet – Super contribution caps, rates and thresholds for 2016/17 year released

The Australian Taxation Office (ATO) has released key super contribution caps, rates and thresholds for the 2016/17 year. These include:

  • Concessional contribution caps – for persons aged less than 49 on 30 June 2016 the cap will remain at $30,000 -  for persons aged 49+ on 30 June 2016 the higher cap of $35,000 will apply;
  • Non-concessional contributions cap- will remain at $180,000, while the “bring forward” cap will remain at $540,000;
  • CGT contributions cap - will increase to $1,415,000.
  • Super guarantee maximum super contribution base- will increase to $51,620 per quarter, while the super guarantee rate will remain at 9.5%;
  • Lump sum low rate cap- will increase to $195,000.