Super changes in the 2021-22 Budget

Published on 21/05/2021

A number of changes to super were included in the federal government’s 2021-22 Budget and intended to be in place for 1 July 2022. Some key changes include to:

  • abolish the threshold of $450 a month to receive compulsory employer contributions
  • remove the work test for those between 67 and 74 to make salary sacrifice and non-concessional contributions
  • expand the First Home Super Saver Scheme allow access to $50,000 in super voluntary contributions
  • reduce the age to make downsizer contributions from 65 to 60
Click below to read more about each key change in the 2021-22 Budget

Changes from 1 July 2021

  • the superannuation guarantee contribution will rise from 9.5% to 10%
  • the annual concessional contributions cap (limit) will increase from $25,000 to $27,500 See ATO website
  • the non-concessional contributions cap will increase from $100,000 to $110,000 See ATO website.

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