From 1 July 2022 in line with CPI and Average Weekly Ordinary time earnings (AWOTE), some superannuation and tax thresholds will change.
Here are the updates:
Co-Contribution p.a for 2022-23
Low threshold rising to $42,016
High Threshold rising to $57,016
CGT lifetime Cap for 2022-23 rising to $1,650,000
Untaxed plan cap - Lifetime for 2022-23 rising to $1,650,000
Superannuation Guarantee – Maximum Contributions base
Per quarter for 2022-23 rising to $60,220
Low rate cap (Applies on withdrawals of taxable component between preservation and age 60) for 2022-23 rising to $230,000
There are some thresholds that remain unchanged so for further information on this contact contact us.