The 2022-23 Super and Tax Thresholds

1 min read
22/03/22 16:18

Some superannuation and tax thresholds will change from 1 July 2022 in line with CPI and Average Weekly Ordinary time earnings (AWOTE).

What’s changing?

 

2021-22

2022-23

Co-Contribution p.a
  • Low threshold
  • High Threshold

 $41,112
$56,112

 $42,016
$57,016

CGT lifetime Cap

$1,615,000

$1,650,000

Untaxed plan cap - Lifetime

$1,615,000

$1,650,000

Superannuation Guarantee – Maximum Contributions base
Per quarter

$58,920

$60,220

Low rate cap*

$225,000

$230,000

*Applies on withdrawals of taxable component between preservation and age 60

The superannuation guarantee percentage is also scheduled to rise to 10.5% on 1 July 2022. We will monitor this in the upcoming Federal budget and confirm the rate.

What remains the same?

The following thresholds will remain unchanged for the 2022-23 financial year.

Concessional contribution cap

$27,500

Non concessional contribution cap - standard

$110,000

Non concessional contribution cap – bring forward over 3 financial years

$330,000

Division 293 – Annual adjusted taxable income

$250,000

General transfer balance cap

$1,700,000

Defined benefit income cap

$106,250

Spouse tax offset

  • Lower income threshold
  • Higher income threshold

 

$37,000
$40,000

 

 

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