Contribution cap will increase by $2.5k and $10k for concessional and non-concessional contribution from 1 July 2021
February 25, 2021
The Contribution caps for both concessional and non-concessional contribution increase by $2.5k and $10k for concessional and non-concessional contribution from 1 July 2021.
The new cap from 1 July 2021 is as below:
Concessional contribution $27,500
Non- concessional contribution $110,000
If you use the bring forward rules for NCC, the following threshold will apply:
TSB: total super balance , NCC: Non-concessional contribution
TSB $1.7mil NCC nil
TSB $1.59-1.7mil NCC $110k
TSB $1.48-1.59mil NCC $220K
TSB $0-1.48mil NCC $330K
Please note if you have started using bring forward rules prior to 1 July 2021, the NCC cap $300,000 still applies. Therefore you can not use this new cap of $330,000 from 1 July 2021.