Key Super Rates
The Australia Taxation Office has released the key super rates and thresholds that apply in 2019/20.
KEY SUPER RATES AND THRESHOLDS FOR 2019-20
1. Indexed to the annual increase in Average Weekly Ordinary Time Earnings (AWOTE) in increments of $5,000 (rounded down).
2. Indexed periodically in $100,000 increments in line with the Consumer Price Index.
3. Indexed periodically in line of the general TBC
4. Indexed to the annual increase in Average Weekly Ordinary Time Earnings (AWOTE) in increments of $2,500
5. This cap is four times the CC cap. Clients under aged 64 or less on 1 July can take advantage of the bring-forward provisions in 2019/20 by making NCCs up to $300,000 over a three-year period. A person’s total super balance at 30 June 2019 and past contributions will determine their eligibility to use the bring-forward provisions.
6. Indexed to the annual increase in AWOTE.
Reference Key superannuation rates and thresholds, ATO website, 4 March 2019