Important changes to super
July 22, 2024
The ATO has highlighted important changes to super from 1 July 2024. These are:
-super guarantee rate increased to 11.5% (previously 11%)
-the concessional super contributions cap increased to $30,000 per year (previously $27,500)
-the non-concessional super contributions cap increased to $120,000 per year (previously $110,000)
-the maximum super contribution base, for employers increased to $65,070 for the 2024-25 financial year (previously $62,270).