Date of article: 1 July 2021
Last updated: 1 July 2021
Contributions cap
From 1 July 2021, the annual concessional contribution cap amount is $27,500. (Previously, it was $25,000).
The annual non-concessional contribution cap amount is $110,000. (Previously, it was $100,000).
Note: contributions are subject to age and total super balance.
Transfer balance cap
From 1 July 2021, the general transfer balance cap increased to $1.7 million. (Previously, it was $1.6 million).
Note: whilst there is an increment of $100,000 to the general transfer balance cap, the increase to your personal transfer balance cap will depend on your circumstances. If you have used any of your transfer balance cap amount, your increase will not be $100,000, and will be based on your unused cap derived from your highest ever balance of your transfer balance account. If you have exhausted your cap or an excess transfer balance, your indexation will be Nil.
Total super balance
From 1 July 2021, the limit for total super balance is $1.7 million.
The ability to make non-concessional contribution for a current financial year is subject to total super balance as at 30 June of the prior financial year.
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