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New superannuation rates and thresholds released

The ATO has published the key superannuation rates and thresholds for the 2018/19 income year.

  • The Non-Concessional Contributions cap will remain at $100,000 (although transitional arrangements may apply), and the Concessional Contributions cap will remain at $25,000.
  • The CGT cap amount will be $1,480,000.
  • The Division 293 tax threshold will be $250,000.
  • The maximum super contribution base for superannuation guarantee purposes will be $54,030 per quarter.
  • The maximum superannuation co-contribution entitlement for the 2018/19 income year will remain at $500 (with the lower income threshold increasing to $37,697 and the higher income threshold increasing to $52,697).

The superannuation benefit caps for the 2018/19 income year include:

  • a low rate cap amount of $205,000;
  • an untaxed plan cap amount of $1,480,000;
  • a general transfer balance cap of $1.6m;
  • a defined benefit income cap of $100,000;
  • an ETP cap amount for life benefit termination payments and death benefit termination payments of $205,000; and
  •  the tax-free part of genuine redundancy payments and early retirement scheme payments comprising a base limit of $10,399 and for each complete year of service an additional $5,200.

 

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