Superannuation rates and thresholds for 2015/2016 year (and 2014/2015 year)

Trish Power - April 22, 2015 9 Comments

Note: This article lists the latest superannuation rates and thresholds for the 2015/2016 year, and for the 2014/2015 year, and also for earlier financial years.

One of the most searched-for superannuation thresholds is theconcessional contributions cap for the latest financial year. For the 2015/2016 year, and for the 2014/2015 year, the general concessional contributions cap is $30,000 while the special concessional contribution cap for over-50s is $35,000. The special over-50s cap specifically applies to those aged 49 years or over as at 30 June 2014 (for the 2014/2015 year concessional contributions cap), and those aged 49 years or over as at 30 June 2015 (for the 2015/2016 concessional contributions cap).

The ATO has also released other updatedsuperannuation rates and thresholds for the 2015/2016 year. The tables within this article also list the super rates and thresholds for the 2014/2015 year, and earlier financial years. You can click on items in the list below for details of each super rate or threshold, or scroll down the page:

 Concessional contributions cap^

 Non-concessional contributions cap*

 Maximum superannuation contribution base^

 Co-contribution income thresholds^^

 Minimum annual pension (income stream) payments

 Low-rate cap amount

 Untaxed plan cap amount

 CGT cap amount

 Tax-free part of genuine redundancy payments

Concessional contributions cap^

Income year Under 50 50 years to 59 years* 60 years and over*

2014/2015 $30,000 $35,000 $35,000

2013/2014 $25,000 $25,000 $35,000

2012/2013 $25,000 $25,000 $25,000

*Concessional contributions cap for older Australians applies in the following way for different financial years:

 2013/2014 year: If you were 59 years of age or older as at 30 June 2013 then you were eligible for the higher concessional cap of $35,000 for the 2013/2014 year. If you were 58 years or younger as at 30 June 2013, then you were eligible for the general concessional cap of $25,000 for the 2013/2014 year.

 2014/2015 year: The concessional cap for older Australians was broadened to those in their fifties from 1 July 2014. If you were 49 years of age or older as at 30 June 2014, then your concessional contributions cap for the 2014/2015 year is $35,000.

 2015/2016 year: If you were 49 years of age or older as at 30 June 2015, then your concessional contributions cap for the 2015/2016 year is $35,000.

Income year Under 50 Transitional cap for over-50s

2011/2012 $25,000 $50,000 $50,000

2010/2011 $25,000 $50,000 $50,000

2009/2010 $25,000 $50,000 $50,000

2008/2009 $50,000 $100,000 $100,000

^You can find more information about the concessional contributions caps in the followingSuperGuide articles:

 Super concessional contributions: 2015/2016 survival guide

 Salary sacrificing and super: 10 facts you should know

 Higher concessional contributions cap applies to over-50s from July 2014

 Concessional contributions caps: 10 facts you should know

Non-concessional contributions cap*

Income year Cap Bring-forward rule

2015/2016 $180,000 $540,000

2014/2015 $180,000 $540,000

2013/2014 $150,000 $450,000

2012/2013 $150,000 $450,000

2011/2012 $150,000 $450,000

2010/2011 $150,000 $450,000

2009/2010 $150,000 $450,000

2008/2009 $150,000 $450,000

*You can find more information about the non-concessional contributions cap in the followingSuperGuide articles:

 Your 2015/2016 guide to non-concessional (after-tax) contributions

 Bring forward rule: 10 facts you should know

Maximum superannuation contribution base^

Income year Per quarter Annualised

2015/2016 $50,810 $203,240

2014/2015 $49,430 $197,720

2013/2014 $48,040 $192,160

2012/2013 $45,750 $183,000

2011/2012 $43,820 $175,280

2010/2011 $42,220 $168,880

2009/2010 $40,170 $160,680

2008/2009 $38,180 $152,720 

^You can find more information about the maximum superannuation contributions base in the following SuperGuide articles:

 Upper limit on SG contributions (for 2014/2015 and previous years)

 Superannuation Guarantee: What is the maximum SG employers must pay?

Co-contribution income thresholds^^

Income year Lower income threshold Upper income threshold

2015/2016 $35,454 $50,454

2014/2015 $34,488 $49,488

2013/2014 $33,516 $48,516

2012/2013 $31,920 $46,920

2011/2012 $31,920 $61,920

2010/2011 $31,920 $61,920

2009/2010 $31,920 $61,920

2008/2009 $30,342 $60,342

^^For the 2015/2016 and 2014/2015 years (and for the 2012/2013 and 2013/2014 years), the co-contribution matching rate is 50% of the non-concessional (after-tax) contributions that you make, and also note that the maximum co-contribution that you can receive is $500. For more information about the co-contribution rules see the following SuperGuide articles:

 Cashing in on the co-contribution rules (2015/2016 year)

 Super contributions: How much co-contribution will I get?

Minimum annual pension (income stream) payments

Back to normal Temporary relief

  2015/2016, 2014/2015 and 2013/2014 years 2012/2013 and 2011/2012 years* 2010/2011, 2009/2010 and 2008/2009 years

Age      Percentage factors (PF)   No relief 75% of PF 50% of PF

55-64       4%                                 4%                  3%                2%

65-74       5%                                 5%                  3.75%        2.5%

75-79       6%                                 6%                  4.5%        3%

80-84       7%                                 7%                  5.25%        3.5%

85-89       9%                                 9%                  6.75%        4.5%

90-94      11%                                11%                  8.25%        5.5%

95 or older   14%                                14%                  10.5%        7%

*For the 2012/2013 year and for the 2011/2012 year, the annual minimum pension payment factors were 75% of the usual factors.

For more information about the minimum pension payment rules see the followingSuperGuide articles:

 Minimum pension payments for 2015/2016 year and 2014/2015 year

 Retirement and tax: What are the minimum pension payment rules?

 SMSF pension: How do I calculate my minimum pension payment? 

Low-rate cap amount

Income year Cap

2015/2016 $195,000

2014/2015 $185,000

2013/2014 $180,000

2012/2013 $175,000

2011/2012 $165,000

2010/2011 $160,000

2009/2010 $150,000

2008/2009 $145,000 

For more information on the low-rate cap see the following SuperGuide articles:

 Retirement: 3 ways of taking super benefits before the age of 60

 Retiring before the age of 60: the tax deal 

Untaxed plan cap amount

Income year Cap

2015/2016 $1.395 million

2014/2015 $1.355 million

2013/2014 $1.315 million

2012/2013 $1.255 million

2011/2012 $1.205 million

2010/2011 $1.155 million

2009/2010 $1.1 million

2008/2009 $1.045 million 

For more information on how super benefits from an untaxed source’ are taxed, see the following SuperGuide articles

 Tax-free super for over-60s, except for some

 Retirement: 3 ways of taking super benefits before the age of 60

CGT cap amount

Income year Cap

2015/2016 $1.395 million

2014/2015 $1.355 million

2013/2014 $1.315 million

2012/2013 $1.255 million

2011/2012 $1.205 million

2010/2011 $1.155 million

2009/2010 $1.1 million

2008/2009 $1.045 million  

Tax-free part of genuine redundancy payments

Income year Base limit For each complete year of service

2015/2016 $9,780              $4,891

2014/2015 $9,514              $4,758

2013/2014 $9,246              $4,624

2012/2013 $8,806              $4,404

2011/2012 $8,435              $4,218

2010/2011 $8,126              $4,064

2009/2010 $7,732              $3,867

2008/2009 $7,350              $3,676

For more information on these rates, you can use the search function (at the top right of theSuperGuide website), or you can visit the ATO website.