26/10/2015
Superannuation rates and thresholds for 2015/2016 year (and 2014/2015 year)
Trish Power - April 22, 2015 9 Comments
Note: This article lists the latest superannuation rates and thresholds for the 2015/2016 year, and for the 2014/2015 year, and also for earlier financial years.
One of the most searched-for superannuation thresholds is theconcessional contributions cap for the latest financial year. For the 2015/2016 year, and for the 2014/2015 year, the general concessional contributions cap is $30,000 while the special concessional contribution cap for over-50s is $35,000. The special over-50s cap specifically applies to those aged 49 years or over as at 30 June 2014 (for the 2014/2015 year concessional contributions cap), and those aged 49 years or over as at 30 June 2015 (for the 2015/2016 concessional contributions cap).
The ATO has also released other updatedsuperannuation rates and thresholds for the 2015/2016 year. The tables within this article also list the super rates and thresholds for the 2014/2015 year, and earlier financial years. You can click on items in the list below for details of each super rate or threshold, or scroll down the page:
Concessional contributions cap^
Non-concessional contributions cap*
Maximum superannuation contribution base^
Co-contribution income thresholds^^
Minimum annual pension (income stream) payments
Low-rate cap amount
Untaxed plan cap amount
CGT cap amount
Tax-free part of genuine redundancy payments
Concessional contributions cap^
Income year Under 50 50 years to 59 years* 60 years and over*
2014/2015 $30,000 $35,000 $35,000
2013/2014 $25,000 $25,000 $35,000
2012/2013 $25,000 $25,000 $25,000
*Concessional contributions cap for older Australians applies in the following way for different financial years:
2013/2014 year: If you were 59 years of age or older as at 30 June 2013 then you were eligible for the higher concessional cap of $35,000 for the 2013/2014 year. If you were 58 years or younger as at 30 June 2013, then you were eligible for the general concessional cap of $25,000 for the 2013/2014 year.
2014/2015 year: The concessional cap for older Australians was broadened to those in their fifties from 1 July 2014. If you were 49 years of age or older as at 30 June 2014, then your concessional contributions cap for the 2014/2015 year is $35,000.
2015/2016 year: If you were 49 years of age or older as at 30 June 2015, then your concessional contributions cap for the 2015/2016 year is $35,000.
Income year Under 50 Transitional cap for over-50s
2011/2012 $25,000 $50,000 $50,000
2010/2011 $25,000 $50,000 $50,000
2009/2010 $25,000 $50,000 $50,000
2008/2009 $50,000 $100,000 $100,000
^You can find more information about the concessional contributions caps in the followingSuperGuide articles:
Super concessional contributions: 2015/2016 survival guide
Salary sacrificing and super: 10 facts you should know
Higher concessional contributions cap applies to over-50s from July 2014
Concessional contributions caps: 10 facts you should know
Non-concessional contributions cap*
Income year Cap Bring-forward rule
2015/2016 $180,000 $540,000
2014/2015 $180,000 $540,000
2013/2014 $150,000 $450,000
2012/2013 $150,000 $450,000
2011/2012 $150,000 $450,000
2010/2011 $150,000 $450,000
2009/2010 $150,000 $450,000
2008/2009 $150,000 $450,000
*You can find more information about the non-concessional contributions cap in the followingSuperGuide articles:
Your 2015/2016 guide to non-concessional (after-tax) contributions
Bring forward rule: 10 facts you should know
Maximum superannuation contribution base^
Income year Per quarter Annualised
2015/2016 $50,810 $203,240
2014/2015 $49,430 $197,720
2013/2014 $48,040 $192,160
2012/2013 $45,750 $183,000
2011/2012 $43,820 $175,280
2010/2011 $42,220 $168,880
2009/2010 $40,170 $160,680
2008/2009 $38,180 $152,720
^You can find more information about the maximum superannuation contributions base in the following SuperGuide articles:
Upper limit on SG contributions (for 2014/2015 and previous years)
Superannuation Guarantee: What is the maximum SG employers must pay?
Co-contribution income thresholds^^
Income year Lower income threshold Upper income threshold
2015/2016 $35,454 $50,454
2014/2015 $34,488 $49,488
2013/2014 $33,516 $48,516
2012/2013 $31,920 $46,920
2011/2012 $31,920 $61,920
2010/2011 $31,920 $61,920
2009/2010 $31,920 $61,920
2008/2009 $30,342 $60,342
^^For the 2015/2016 and 2014/2015 years (and for the 2012/2013 and 2013/2014 years), the co-contribution matching rate is 50% of the non-concessional (after-tax) contributions that you make, and also note that the maximum co-contribution that you can receive is $500. For more information about the co-contribution rules see the following SuperGuide articles:
Cashing in on the co-contribution rules (2015/2016 year)
Super contributions: How much co-contribution will I get?
Minimum annual pension (income stream) payments
Back to normal Temporary relief
2015/2016, 2014/2015 and 2013/2014 years 2012/2013 and 2011/2012 years* 2010/2011, 2009/2010 and 2008/2009 years
Age Percentage factors (PF) No relief 75% of PF 50% of PF
55-64 4% 4% 3% 2%
65-74 5% 5% 3.75% 2.5%
75-79 6% 6% 4.5% 3%
80-84 7% 7% 5.25% 3.5%
85-89 9% 9% 6.75% 4.5%
90-94 11% 11% 8.25% 5.5%
95 or older 14% 14% 10.5% 7%
*For the 2012/2013 year and for the 2011/2012 year, the annual minimum pension payment factors were 75% of the usual factors.
For more information about the minimum pension payment rules see the followingSuperGuide articles:
Minimum pension payments for 2015/2016 year and 2014/2015 year
Retirement and tax: What are the minimum pension payment rules?
SMSF pension: How do I calculate my minimum pension payment?
Low-rate cap amount
Income year Cap
2015/2016 $195,000
2014/2015 $185,000
2013/2014 $180,000
2012/2013 $175,000
2011/2012 $165,000
2010/2011 $160,000
2009/2010 $150,000
2008/2009 $145,000
For more information on the low-rate cap see the following SuperGuide articles:
Retirement: 3 ways of taking super benefits before the age of 60
Retiring before the age of 60: the tax deal
Untaxed plan cap amount
Income year Cap
2015/2016 $1.395 million
2014/2015 $1.355 million
2013/2014 $1.315 million
2012/2013 $1.255 million
2011/2012 $1.205 million
2010/2011 $1.155 million
2009/2010 $1.1 million
2008/2009 $1.045 million
For more information on how super benefits from an untaxed source’ are taxed, see the following SuperGuide articles
Tax-free super for over-60s, except for some
Retirement: 3 ways of taking super benefits before the age of 60
CGT cap amount
Income year Cap
2015/2016 $1.395 million
2014/2015 $1.355 million
2013/2014 $1.315 million
2012/2013 $1.255 million
2011/2012 $1.205 million
2010/2011 $1.155 million
2009/2010 $1.1 million
2008/2009 $1.045 million
Tax-free part of genuine redundancy payments
Income year Base limit For each complete year of service
2015/2016 $9,780 $4,891
2014/2015 $9,514 $4,758
2013/2014 $9,246 $4,624
2012/2013 $8,806 $4,404
2011/2012 $8,435 $4,218
2010/2011 $8,126 $4,064
2009/2010 $7,732 $3,867
2008/2009 $7,350 $3,676
For more information on these rates, you can use the search function (at the top right of theSuperGuide website), or you can visit the ATO website.