| Superannuation co-contribution thresholds (max $500 per year) |
Currently income must be under $37,697
(reduces where no amount payable if income over $52,699) |
| Concessional contributions cap |
$25,000 per financial year
|
| Non-concessional contributions cap |
*$100,000 (able to contribute $300k by bringing forward two future yrs allowance)
|
| Low rate cap amount (used for lump sum super payments if an individual is aged between 55 and 59) |
$205,000
|
| Superannuation guarantee (SG) payments |
9.5% pa (Until 30/06/2021, it will then increase 0.5% per yr until it reaches 12% on 01/07/2025)
|
| Maximum contribution base for SG purposes (per quarter) |
$54,030
|
Tax free amount of redundancy payments |
|
| Flat amount |
$10,399
|
| Per full year of service |
$5,200
|
Account Based Pension Minimum Income |
% of balance as at 1 July |
| Under 65 |
4%
|
| 65-74 |
5%
|
| 75-79 |
6%
|
| 80-84 |
7%
|
| 85-89 |
9%
|
| 90-94 |
11%
|
| 95 or older |
14%
|
| Single (per fortnight) |
20-Sept-18
|
20-Mar-19
|
Increase
|
| Base |
$834.40
|
$843.60
|
$9.20 pf
|
| Supplement |
$67.80
|
$68.50
|
$0.70 pf
|
| Clean Energy Supplement |
$14.10
|
$14.10
|
$0.00 pf
|
| Total |
$916.30
|
$926.20
|
$9.90 pf
|
| Couple (each member of couple, per fortnight) |
20-Sept-18
|
20-Mar-19
|
Increase
|
| Base |
$629.00
|
$635.90
|
$6.90 pf
|
| Supplement |
$51.10
|
$51.60
|
$0.50 pf
|
| Clean Energy Supplement |
$10.60
|
$10.60
|
$0.00 pf
|
| Total |
$690.70
|
$698.10
|
$7.40 pf
|
