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Superannuation Thresholds Increasing For 2014/15 Year

The Australian Taxation Office has announced key superannuation rates and thresholds to apply The concessional contributions cap has increased to $30,000 for 2014/15 (currently $25,000). For 2014/15 this will apply to persons aged under 50. The special concessional contributions cap for older people remains at $35,000, but will apply to anyone aged 49 or over on 30 June 2013. The non-concessional contributions cap has increased to $180,000 (up from $150,000). (Non-concessional contributions include personal contributions for which you do not claim an income tax deduction.)