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  • Super contribution caps will increase from 1 July 2021

    From 1 July 2021, the superannuation concessional and non-concessional contribution caps will be indexed. The new caps will be:

    Year

    Concessional Cap

    Non-Concessional cap

    2021-22

    $27,500

    $110,000 or $330,000 over 3 years

    The total superannuation balance limit that determines if an individual has a non-concessional contributions cap of nil will also increase from $1.6 to $1.7 million, effective from 1 July 2021.

    Individuals who are under 65 years old, may be able to make non-concessional contributions of up to three times the annual non-concessional contributions cap ($110,000 from 1 July 2021) in a single year. It is important to note that if an individual enters into a bring forward arrangement before 1 July 2021, they will not have access to any additional cap space as a result of the increase to the non-concessional cap.

    If a member of your self-managed super fund (SMSF) is planning on making additional contributions, consider talking to an advisor or tax professional.

    Information on ato.gov.au has been updated.

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      Last modified: 19 Apr 2021QC 65325