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Changes to super from 1 July

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Pushlished date icon Published on 24 June 2024

At the beginning of this financial year, some of the rules within super changed.

More super for employees

From 1 July 2024, the superannuation guarantee increased from 11 per cent to 11.5 per cent of an employee’s annual salary which will help employee super accounts grow more quickly.

Changes to contributions caps

If you’re making—or you’d like to make—extra contributions into your super account, you may be pleased to learn about the increases which enable you to invest higher amounts as voluntary contributions:

Concessional contributions

From 1 July 2024, the concessional contributions cap increased from $27,500 to $30,000 per annum.

Non-concessional contributions

The non-concessional contributions cap increased from $110,000 per year to $120,000. This change also affects the bring-forward rule which increased to up to $360,000 depending on your super balance.

The bring-forward rule

The bring-forward rule allows you to boost your retirement in super’s tax-friendly environment by using up to three years’ worth of after-tax contributions in a single year and increasing your potential to benefit from the power of compound interest.

Your total superannuation balance will determine the maximum amount to contribute using the bring-forward rule as outlined in the table below.

Super balance
(at 30 June 2024)

Bring-forward rule non-concessional
contributions caps

Bring-forward rule

Less than $1.66m


3 years

$1.66m – $1.78m


2 years

$1.78m - $1.9m


1 year

More than $1.9m



Depending on your circumstances, there may be ways you can benefit from using the bring-forward rule—book a chat with a super specialist to find out more.

We’re here to help

If you have questions about the changes to super or you’d like to understand how you might use the new rules to your advantage, call us on 1800 675 839 between 8am and 8pm AEST Mon–Fri.