From 1 July 2024 the maximum amount you can contribute to super is changing:
| Current Cap | Cap from 1 July 2024 | |
| Concessional Contributions | 27,500 | 30,000 |
| Non Concessional Contributions | 110,000 | 120,000 |
The Super Guarantee rate is also increasing from 11% to 11.5% – most software will update automatically but we do suggest that you check your first pay run of the new financial year to ensure that your software is updated.
As always, these are the general caps, please contact us for information specific to your circumstances.
– Renee Crane
Posted 30.06.2024
This article is compiled as a helpful guide for your private information and is subject to copyright. We suggest that you do not act solely on the basis of material contained in this article because items are of general nature only and may be liable to misinterpretation in particular circumstances. We recommend that our advice be sought before acting on any of these crucial areas.
