Superannuation Rates and Thresholds

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Superannuation Rates and Thresholds

Written by Fabian Bussoletti, Technical Manager, SMSF Association

Each year, several key superannuation rates and thresholds are indexed in line with movements to Average Weekly Ordinary Time Earnings (AWOTE) or Consumer Price Index (CPI).

Following the release of these key statistics by the Australian Bureau of Statistics (ABS) last month, the thresholds most relevant to superannuation for 2023-24 are set to be as follows:

Key thresholds Current
2022-23
New
2023-24

Standard concessional contribution cap1

$27,500

$27,500

Standard non-concessional contribution (NCC) cap2

$110,000

$110,000

CGT cap amount
$1,650,000

$1,705,000

Government Co-contribution3

  • Lower threshold
  • Upper threshold


$42,016

$57,016

 

$43,445

$58,445

General Transfer Balance Cap (TBC)4

$1,700,000

$1,900,000

Low-rate cap amount
$230,000

$235,000

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