Fast Facts

Updated July 2024 for financial year 2024-25, unless otherwise stated

Fast Facts is a comprehensive and easy to use online resource for finance professionals. It brings together useful rates and thresholds from a range of Government sources and is updated quarterly to provide you with the latest information. Bookmark this page to have this resource at your fingertips when you need it.

Contributions caps

Concessional contributions cap [7]	$30,000
Non-concessional contributions cap [8]	$120,000
Non-concessional contributions cap – maximum bring forward amount [8] [9]	$360,000
Downsizer contributions cap	$300,000
CGT cap	$1,780,000

Other caps

General transfer balance cap	$1,900,000
Defined benefit income cap	$118,750

Division 293 tax

High income threshold	$250,000
Tax rate	15%

Super Guarantee levels

Rate	11.5%
Maximum contributions base p.q.	$65,070

Government co-contribution [10]

Total income	Maximum co-contribution
Up to $45,400	$500
$45,401 - $60,400	$500 - [ (Total income - $45,400) x 0.0333]
$60,401 or more	$0

Low income superannuation tax offset (LISTO)

Maximum offset	Cut-out threshold
$500	$37,000

Offset is a refund of tax paid on concessional contributions if adjusted taxable income does not exceed threshold.

Tax on lump sum withdrawals from superannuation [11]

Taxable component
	Taxed element	Untaxed element
Withdrawn prior to age 60	20%	30% to untaxed plan cap amount [12], 45% on balance
Withdrawn age 60 +	0%	15% to untaxed plan cap amount [12], 45% on balance
Tax-free component
Withdrawn at any age	0%

Tax on superannuation lump sum payments made on death [11]

Taxable component
	Taxed element	Untaxed element
Paid to dependant	0%	0%
Paid to non-dependant	15%	30%
Tax-free component
Paid to dependant	0%
Paid to non-dependant	0%

Tax on superannuation income streams [11]

Taxable component
	Taxed element	Untaxed element
Prior to age 60	MTR [14] [15]	MTR
Age 60+	0% [16]	MTR less 10% tax offset [16]
Tax-free component
Any age	0%

Tax on superannuation death benefit income streams [11]

Taxable component
	Taxed element	Untaxed element
Beneficiary or deceased 60+ at time of death	0% [15]	MTR less 10% tax offset [15]
Beneficiary and deceased less than age 60 at time of death	MTR less 15% tax offset [16]	MTR [17]
Tax-free component
Beneficiary and deceased of any age	0%

[7] Up to five years of unused concessional contributions can be accrued from 1 July 2018 and used from 1 July 2019 if total superannuation balance is less than $500,000 on 30 June of previous financial year.
[8] Where total superannuation balance is greater than or equal to the general transfer balance cap on 30 June of the previous financial year, the cap reduces to zero.
[9] Those aged 74 or less at 1 July can bring forward up to two future years of the non-concessional contributions cap.
[10] Must have total superannuation balance less than general transfer balance cap on 30 June of the previous financial year and not exceed the current non-concessional contribution cap to be eligible.
[11] Medicare levy of 2% is added to rates except where tax rate is nil.
[12] Untaxed plan cap $1,780,000.
[13] Marginal tax rate.
[14] Tax offset of 15% available if a disability super benefit.
[15] Subject to additional tax rules for excess capped defined benefit income streams.
[16] Becomes tax-free when beneficiary turns 60, subject to additional tax rules for excess capped defined benefit income streams.
[17] Tax offset of 10% becomes available when beneficiary turns age 60, subject to additional tax rules for excess capped defined benefit income streams.