- From 1 July 2017 (eg 2017/2018 financial year) concessional (tax deductible)
superannuation contributions limitedto $25,000 irrespective of age.
- From 1 July 2017, tax on deductible contributions will be 15% for individuals with
personal taxable income (before their superannuation deduction) of less than
$250,000 (down from the current $300,000).
- For those with higher than $250,000 taxable income, contributions will be taxed at 30%
Non-Concessional Contributions Cap of $100,000 for all for 2017-18.
ASSET LIMITS IN SUPERANNUATION
From 1 July 2017 an individual cap of $1.6m (called a Superannuation Transfer Balance Cap) has
been introduced for tax-free pension assets.