Super Rates and Thresholds

The ATO has recently released the following rates/thresholds which will apply for 2010/11

Concessional Contributions Cap --> $25,000 (no change from 2009/10)
Non-concessional Contributions Cap --> $450,000 (no change from 2009/10)
CGT Non-concessional Contributions Cap --> $1,155,000 (an increase of $55,000 over the 2009/10 cap)
Low rate cap for super lump sums --> $160,000 (an increase of $10,000 over the 2009/10 cap)

The special concessional contribution cap of $50,000 will apply for taxpayers who are 50 or more at any time during 2010/11. The special concessional contribution cap will cease to apply from 1 July 2012. As this cap is not indexed there has been no change from 2009/10.

For 2010/11 and subsequent financial years, the minimum annual payment for income streams (eg account-based pensions and transition to retirement pensions) will revert to their normal rates as follows:

Age bracket at 1 July	% of the pension account balance at 1 July
Under age 65	4%
Age 65 to 74	5%
Age 75 to 79	6%
Age 80 to 84	7%
Age 85 to 89	9%
Age 90 to 94	11%
Age 95 or more	14%

The 50% reduction in the minimum rates only applied for 2008/09 and 2009/10 financial years.

The threshold levels for the Government Co-contribution for 2010/11 have yet to be released.

2010/11 Super Rates and Thresholds Released