Announced this week, the concessional and non-concessional contribution rates for the next financial year have now risen.
From 1 July 2021, Concessional contribution limits will rise to $27,500 and Non-concessional to $110,000 (4 times the concessional rate).
- No other contribution caps have changed as a consequence of this change.
- Where there are remaining portions of the three-year non-concessional bring forward provisions carried over into the next financial year, they will be locked into the current $300,000 limit.
Contact us if you need further information on how this change fits with your strategy.
This represents general information only. Before making any financial or investment decisions, we recommend you consult a financial planner to take into account your personal investment objectives, financial situation and individual needs.