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.