Other Contribution Changes 2017 & 2018
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 |
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.
