What was super in 2015?
What was super in 2015?
Table 21: Super guarantee percentage
| Period | General super guarantee (%) | Super guarantee (%) for Norfolk Island (transitional rate) (from 1 July 2016) |
|---|---|---|
| 1 July 2014 – 30 June 2015 | 9.50 | 0 |
| 1 July 2015 – 30 June 2016 | 9.50 | 0 |
| 1 July 2016 – 30 June 2017 | 9.50 | 1 |
| 1 July 2017 – 30 June 2018 | 9.50 | 2 |
How much is the super contribution cap?
$27,500
You can generally contribute up to $27,500 each financial year. These contributions are taxed at 15%. If you earn over $250,000, you may pay an extra 15% tax—so in total, you’ll pay 30% tax on some or all of the contributions.
What is the amount for non concessional contribution cap in 2015 16?
Non-concessional contributions caps in the current and previous financial years
| Income year | Amount of cap* |
|---|---|
| 2017–18 | $100,000 |
| 2016–17 | $180,000 |
| 2015–16 | $180,000 |
| 2014–15 | $180,000 |
What was the superannuation rate in 2016?
9.50%
Superannuation Guarantee (SG) – the SG rate remains at 9.50%, with the maximum super contribution base for 2016/17 increasing to $51,620 per quarter.
What is the superannuation threshold?
Superannuation Co-Contribution – the maximum co-contribution entitlement for the 2021/22 year remains at $500. The lower income threshold (for full entitlement) increases to $41,112 and the higher income threshold (cut-off for eligibility) increases to $56,112.
Can you contribute to super after 1.6 million?
Those people with more than $1.6 million in super, measured on 30 June immediately before the financial year of the contribution, are not allowed to make any more non-concessional contributions. For people with less than $1.6 million in super, you could invest up to $100,000 per annum.
What is the non-concessional cap for super contributions?
The amount of the non-concessional contributions cap you can bring forward is either: 3 times the annual non-concessional contributions cap over 3 years (that is, $330,000) if your total super balance on 30 June of the previous financial year is less than $1.48 million.
How much super can I contribute tax free?
You can contribute a total of up to $27,500 (concessional contributions cap) before tax each financial year from 1 July 2021. Before-tax contributions are generally taxed at 15%, unless you: earn more than $250,000 p.a.* haven’t given your TFN to your super fund.
What was superannuation rate in 2017?
They are also referred to as personal or after-tax voluntary contributions. Superannuation Guarantee (SG) – the SG rate remains at 9.50%, with the maximum super contribution base for 2017/18 increasing to $52,760 per quarter.
What are superannuation contribution caps?
Superannuation contribution caps are categorised as concessional, non-concessional and CGT amounts, with some further differentiation based on the age and status of the superannuation fund member.
How much can I contribute to my superannuation account?
From 1 July 2018, people aged 65 or over are allowed to make contributions into their super account of up to $300,000 ($600,000 for a couple) using the proceeds from the sale of their main residence.
What are the changes to superannuation for 2018/19?
Super rule changes for 2018/19. Downsizing your home to add to your super. From 1 July 2018, people aged 65 or over are allowed to make contributions into their super account of up to $300,000 ($600,000 for a couple) using the proceeds from the sale of their main residence.
What happens if you exceed the superannuation cap?
If a member’s non-concessional contributions exceed the cap, from 1 July 2017 a tax of 47% is levied on the excess contributions. Individual members are personally liable for this tax and must have their super fund release an amount of money equal to the tax.
