SUPERANNUATION CAPS TO INCREASE 1ST JULY 2024
From 1st July 2024 superannuation caps will go up after the Australian Bureau of statistics reported an increase in average weekly ordinary time earnings (AWOTE) It is the first time in 3 years that the cap has been increased.
From 1st July the concessional cap will rise from $27,500 to $30,000. The non concessional cap of $110,000 will increase to $120,000.
The bring forward three-year rule will increase from $330,000 to $360,000 if triggered after the 1st July 2024.