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Before tax contributions
| Age |
15% tax |
46.5%* tax |
| Age 49 and under |
Up to $25,000 pa |
Over $25,000 pa |
| Age 50 to 74 |
$50,000 pa |
Over $50,000 pa |
After tax contributions:
| Age |
No tax |
46.5%* tax |
| Age 64 and under |
Up to $150,000 pa OR $450,000 over 3 years |
Anything over these limits. |
| Age 65 to 74 |
Up to $150,000 pa |
Anything over these limits.* Note this amount will be indexed in future years. 46.5% is the top marginal tax rate plus Medicare Levy. |
If your fund does not have your tax file number a penalty tax could apply to your before tax contributions which is all employer contributions including salary sacrifice (accumulation funds only). In addition, your fund may not accept after tax contributions without a tax file number.
It is important to note also, employer and salary sacrifice contributions count towards the annual concessional limit ($25,000 or $50,000 depending on your age).
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