Newsletter; Superannuation guarantee rate increase from 9.5% to 10% & Superannuation concessional contribution limit increase to $27,500
Superannuation guarantee rate increase from 9.5% to 10%
From 1 July 2021, the super guarantee rate increased 10%.
The rate will now increase 0.5% each year until the rate reaches 12%:
2021/2022 10.0%
2022/2023 10.5%
2023/2024 11.0%
2024/2025 11.5%
2025/2026 12.0%
Superannuation concessional contribution limit increase to $27,500
From 1 July 2021, the concessional (deductible) contribution limit has increased to $27,500 (from $25,000).
The non-concessional limit has also increased to $110,000 (from $100,000) and the total superannuation
balance limit has increased to $1.7m (from $1.6m).
