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Changes to Super from 1 July

11th June 2021

by BUSSQ

There are a number of changes impacting superannuation from July 2021.  To help you we’ve listed below some of the more significant changes that could impact you.

Superannuation Guarantee increase

The minimum super an employer must pay their employees, the Superannuation Guarantee (SG) is scheduled to increase from the current rate of 9.5% to 10% on 1 July 2021.

Concessional and non-concessional contributions cap increase

The Government set limits on how much you can contribute to your super per financial year without paying additional tax will increase on 1 July 2021 to the new caps below.

If you have any questions about these changes or your superannuation, Peter Lambert – Regional Manger NSW & ACT can help you.  Please give Peter a call on 0427 683 786. To see details of all the super changes coming into effect 1 July, visit www.bussq.com.au

Prepared by BUSS (Queensland) Pty Ltd (ABN 15 065 081 281, AFSL 237860) as Trustee for BUSSQ (BUSSQ Fund, ABN 85 571 332 201). This information is general advice only and does not take into account or consider your personal objectives, financial situation or needs. Before acting, you should review the relevant Product Disclosure Statement to ensure you have all the information about the relevant BUSSQ product and how it works and consider the appropriateness of the information to your needs or seek independent advice from a properly qualified professional.

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