Heffron | Super Thresholds for 2019/20 Financial Year

Super Thresholds for 2019/20 Financial Year

With a new financial year almost upon us, it is time to make ourselves familiar with the various superannuation related thresholds applying for the 2019/20 financial year.

Our 2019/20 Facts & Figures publication will be available shortly, but in the meantime, some of the more commonly used thresholds are detailed below:

Name of Threshold

Total Super Balance at 30 June 2019

Amount for 2019/20 Financial Year

Concessional contributions cap

not applicable

$25,000

Unused concessional cap carry forward

$500,000

Amount unused from 2018/19 concessional cap

Non-concessional contributions cap – standard

less than $1.6m

$100,000

$1.6m or more

$nil

Non-concessional contributions cap – bring forward mode

less than $1.4m

$300,000

(3 year bring forward period)

at least $1.4m but less than $1.5m

$200,000

(2 year bring forward period)

CGT cap

not applicable

$1.515m

Downsizer contribution cap

not applicable

$300,000

Low rate cap

not relevant

$210,000

Transfer balance cap

not relevant

$1.6m

Defined benefit income cap

not relevant

$100,000

Of course, don’t forget not everyone is eligible to make contributions, use bring forward mode or draw benefits from superannuation  If you think you’d benefit from a refresher on the fundamental rules around superannuation, take a look at our SMSF Fundamentals on-line course https://www.heffron.com.au/heffron/training/smsf-fundamentals

 

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