Superannuation

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