Superannuation Tax Rates
July 28th, 2010
Superannuation Funds – 2009/10
|
Type of Receipt |
Rate of Tax % |
| Complying Superannuation Fund | |
| Earnings
Income received including realised capital gains
Discount capital gains (asset held for 12 months or more) |
15 10 |
| Employer Contributions
All (no S.295-180 election)
Portion covered by S.295-180 election |
15 10 |
| Employee and Self-employed Contributions
Al l (no S.290-170 notice)
Portion covered by S.290-170 notice |
15 10 |
| Contributions – SGC shortfall component All |
15 |
| Contributions – other person
All (no S.295-180 election) Portion covered by S.295-180 election Eligible spouse contributions Contributions for minor (not by an employer) Government Co-contributions First Home Saver Account (excluding trustee of exempt life assurance fund or of complying superannuation fund, ADF or PST) |
15 0 0 0 0 0 |
| Roll-overs – 2009/10
Originating from taxable source
- Tax-free component - Taxable component (taxed element) - Taxable component (untaxed element) Transitional termination payment - Tax-free component - Taxable component |
0 0 15
0 15 |
| Non-arm’s Length Component
Unreasonable private company dividends
Excessive non-arm’s length income Trust income (no fixed entitlement) Trust income (fixed entitlement but excessive non-arm’s length income) |
45 45 45 45 |
| Transfer from Foreign Superannuation Funds - Amount specified in a choice |
15 |
| Transfer from Superannuation Holding Accounts (SHA) special account All |
15 |
| Change of Status
Foreign fund to Australian fund
- Market value of assets less member contributions |
15 |
| Non-complying Superannuation Fund | |
| Earnings
Income received including realised capital gains
Discount capital gains (asset held for 12 months or more) |
45 22.5 |
| Contributions (Australian fund)
Employee and self employed
Employer (excluding trustee of exempt life assurance fund, complying superannuation fund, complying ADF or PST) |
0
45 |
Superannuation and Deductions – 2009/10
Concessional Contributions Caps
Concessional contributions include employer contributions (including contributions made under a salary sacrifice arrangement) and personal contributions claimed as a tax deduction by a self-employed person.
|
Taxpayer’s Age |
Amount of Cap |
|
<50 years of age |
$25,000 |
|
50 to 74¹ |
$50,000 |
1. Taxpayers aged 65 or over must pass the ‘work test’ for the fund to be able to accept the contribution.
Non-concessional Contributions Caps
Since 1 July 2007, a cap has also applied to Non-concessional contributions.
Non-concessional contributions include personal contributions for which taxpayers do not claim an income tax deduction.
|
Income Year |
Amount of Cap |
|
2009/10 |
$150,000 or $450,000¹ over 3 years |
1. There is a ‘bring-forward’ option under which taxpayers can contribute greater than $150,000 in an income year as long as the total contributions for that year and the next 2 years do not exceed $450,000. This option only applies to taxpayers who are under 65 at any time in the year that they want to ‘bring-forward’ their contributions.
