Concessional cap indexation paused for 2013-14

The government has paused the indexation of the superannuation general concessional contributions cap for one year in 2013-14, so it remains at $25,000.

Indexation of the cap will be deferred until 2014-15, when the cap is expected to rise to $30,000.

The pause in indexation of the general concessional contributions cap will also result in a pause in the indexation of the concessional contributions cap for individuals aged 50 and over and the non-concessional contributions cap.

Media release

For more information refer to media release no 160 by the Assistant Treasurer and Minister for Financial Services & Superannuation on 29 November 2011

Legislation and supporting material

The following legislation received royal assent on 27 June 2012:

• Tax and Superannuation Laws Amendment (2012 Measures No. 1) Act 2012
• Explanatory Memorandum.

More information For more information refer to: Super contributions - too much super can mean extra tax 2012/13 Budget Papers No 2 (PDF, 1.4MB) - page 40 MYEFO 2011-12 (PDF, 1.7MB) - page 175.