Higher superannuation contribution limits

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For older individuals wanting to make concessional contributions into superannuation, a higher limit of $35,000 (unindexed) will apply to individual aged 60 or over from 1 July 2013. For all others the general limit of $25,000 applies.

For each financial year from the 2014/15 year onwards, the higher $35,000 cap will apply to
individuals who are aged 49 years or over on 30 June of the previous financial year. This will
continue to apply until the $25,000 general concessional contributions cap reaches $35,000
because of indexation.

Concessional (pre-tax) contributions are generally made in three ways:
• compulsory employer contributions (known as Super Guarantee or Award contributions)
• salary sacrifice arrangements
• personal contributions claimed as a tax deduction by self-employed people.


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