Super Rates and Thresholds
Last Updated : 12 May 2010
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The Australian Tax Office has released the key rates and thresholds relating to superannuation for the 2009/10 financial year:

Contribution Caps
The Rudd government announced in the 2009 Budget that concessional contribution caps would be halved. Concessional contributions for those under 50 are limited to $25,000 per financial year and for those over 50, the limit is $50,000 (until 30 June 2012).

Non-concessional contributions remain limited to $150,000 per financial year or $450,000 if averaged over three years (for those aged under 65).  (The government had previously announced an indexation of these rates to $165,000 and $495,000, respectively).

Low Rate Cap
For those aged 55-59 and making lump-sum withdrawals, the Low Rate Cap has increased from $145,000 to $150,000. This is the total amount that can be withdrawn from the taxed element of the taxable component of super tax-free. After this threshold, a tax rate of 15% plus Medicare applies.

For members with an untaxed element within their lump sums (this does not apply to AGEST accounts, but may apply to members withdrawing from CSS, PSS or other government defined benefit schemes), tax will apply to the untaxed element as follows: Age 55-59: 15% plus Medicare will apply to amounts withdrawn up to $150,000 (increased from $145,000). 30% plus Medicare will apply from $150,001 to $1,100,000 (increased from $1,045,000).  Age 60+: 15% plus Medicare will apply to all amounts up to $1,100,000. The top marginal rate of tax applies to lump-sum withdrawal amount above the upper threshold (ages 55+ and 60+).

The lifetime benefit cap for ETP payments received as a result of redundancy (taxable portion) will also increase from $145,000 to $150,000.

Co-contribution Thresholds
Currently (2009/2010), the lower Co-contribution threshold is $31,920 (increased from $30,342) and the upper threshold is $61,920 (increased from $60,342).

Co-contribution benefits continue to reduce on the sliding scale of 5 cents in the dollar for every one thousand dollars assessable income increases above the lower threshold. The maximum co-contribution has been reduced from $1500 to $1000, or dollar-for-dollar.

CGT Contributions from the sale of small business assets
Eligible members may be able to contribute proceeds from the sale of a small business on retirement and receive Capital Gains Tax concessions as a result. CGT contributions are exempt from the Non-concessional contribution cap and have a lifetime limit of $1,100,000 in 2009/10 (increased from $1,045,000).


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This website, and documents linked to it, provides information of a general nature. It has been prepared without taking into account your particular needs, circumstances and objectives. You should assess your own financial situation and read our combined Product Disclosure Statement and Financial Services Guide before making an investment decision. The Trustee of AGEST (Australian Government Employees Superannuation Trust) is AGEST Super Pty Ltd, ABN 44 007 390 392, SPIN AGE0101AU and AFSL 233707, RSE Licence L0000383, RSE Registration R1001556.