The superannuation rates and caps that are indexed, for 2016/17, can be calculated by adjusting them by the recently released AWOTE (Average Weekly Ordinary Time Earnings) index figures. They are as follows.

CONTRIBUTIONS CAPS:

  • The general concessional contributions cap is $30,000 for 2016-17 (unchanged from 2015-16). Note the higher temporary concessional cap of $35,000 (not indexed) applies for those aged 49 years or over on 30¬†June.
  • The non-concessional contributions cap is unchanged at $180,000 for 2016-17 (or $540,000 under the bring-forward rule over 3 years).
  • The CGT cap amount for non-concessional contributions is $1.415m for 2016-17 (up from $1.395m).

SUPER GUARANTEE: “maximum contribution base” is $51,620 per quarter for 2016-17.

CO-CONTRIBUTION: “lower income threshold” is $36,021 for 2016-17; “higher income threshold” is $51,021.

SUPER BENEFITS: the following thresholds apply for 2016-17:

  • Superannuation lump sum low rate cap – $195,000 (unchanged from 2015-16); untaxed plan cap – $1.415m.
  • ETP cap amount – $195,000 (unchanged).
  • Genuine redundancy and early retirement payments – tax-free amounts: base amount – $9,936; service amount – $4,969.

[Un-indexed rates – ATO website] [AWOTE index – ABS website] [LTN 40, 1/3/16]