Concessional contributions include:
-employer contributions (including contributions made under a salary sacrifice arrangement)
-personal contributions claimed as a tax deduction by a self-employed person.
Financial years 2013 – 2014
$25,000 (up to age 60)
$35,000 (Age 60+)
Tax on amounts over the cap 31.5% (in addition to the 15% paid by the super fund)
In the 2012-13 Federal Budget the government announced that from 1 July 2012, individuals earning income of more than $300,000 will have their contributions tax rate increase from 15% to 30% (excluding Medicare levy).