- Concessional contributions cap
Concessional contributions include:
- employer contributions (including contributions made under a salary sacrifice arrangement)
- personal contributions claimed as a tax deduction by a self-employed person.
If you have more than one fund, all concessional contributions made to all your funds are added together and counted towards the cap.
INCOME YEAR AGE AT YEAR-END AMOUNT OF CAP
2021/22 ALL AGES $27,500
2022/23 ALL AGES $27,500
THE GOVERNMENT CO-CONTRIBUTION-2022-23 and 2023-24
If you earn less than $57,016 per year, the Government may add to the contributions you make from your after-tax pay. This is called a co-contribution.
How much will I get?
How much you’ll receive depends on your income. For every dollar you contribute from your after-tax income, the Government will put in 50 cents, up to a maximum of $500.
| Your total income* | Co-contribution available | Your contribution |
| $42,016 or less | $500 | $1,000 |
| $42,016- 57,016 | $500-[3.333%X(Total income-$39,837)] | $1,000 |
| $57,016+ | NIL | $1,000 |
How is the Government co-contribution paid?
If you’re eligible, the Government will pay the co-contribution directly into your super account after you’ve put in your tax return for the financial year in which you made the contribution.
For example, if you add to your super before 30 June 2022, you’ll receive your Government co-contribution after you’ve lodged your 2021/22 tax return.
Superannuation Spouse Contribution Tax Offset
Superannuation guarantee charge
If you want to claim a spouse tax offset in your 2019–20 or future year tax returns You must ensure that: ■ the sum of your spouse’s assessable income, total reportable fringe benefits and reportable employer super contributions is less than $40,000 ■ your spouse has not exceeded their non-concessional contributions cap for the financial year ■ your spouse’s total superannuation balance on 30 June of the previous financial year is below the general transfer balance cap ($1.6 million in 2019–20) ■ the contributions are made to a complying super fund or a retirement savings account on behalf of your spouse ■ you and your spouse are Australian residents when the contributions were made ■ you did not make the contributions to satisfy a family law obligation ■ you are not living separately or apart from your spouse when the contributions were made ■ you do not claim a deduction for the contributions.
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| Income year | Charge percentage (rate) |
| 2014/15–2020/21 | 9.5% |
| 2021/22 | 10% |
| 2022/23 | 10.5% |
| 2023/24 | 11% |
| 2024/25 | 11.5% |
| 2025/26 | 12% |
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