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Other Contribution Changes 2017 & 2018

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Div293 Tax for High Income Earners

If your income is higher than the Div293 threshold the ATO will send you an assessment with an additional tax of 15% on your concessional contribution.  You can choose to pay it with your own money, or to use a release authority form to pay it from your superfund.

Financial Year

Div293 Threshold

2016-2017

2017-2018

$300,000

$250,000

Government Co-Contribution Thresholds

If you earn less than the higher threshold you are entitled to receive government co-contribution when you make a non-concessional contribution to your super account, subject to you satisfying a work test, an income test and an age test.[1]

Financial Year

Maximum
Government
Co-contribution

Matching amount for each $1 of contribution

Lower Threshold

Higher Threshold

2016-2017

$500

$0.50

$36,021

$51,021

2017-2018

$500

$0.50

$36,813

$51,813


[1] Meet all of the following conditions – (1) Less than 71 years old, (2) You did not hold a temporary visa, (3) Personal tax return lodged.

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