Money magazine Comments - The April 1 health and welfare changes you need to know about

Comment by Chris Archibald ()

Chris Archibald () — Sun, 11 Apr 2021 10:02:50 +1000

Superannuation contribution caps will increase to $27,500 July 1st not April 1st

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Comment by Allison Taylor ()

Allison Taylor () — Sun, 11 Apr 2021 20:11:44 +1000

Money Magazine Article 7 April 2021 "The April 1 health, super and welfare changes you need to know about" states the following:

Superannuation contribution caps

From April 1 annual concessional contributions, which are taxed at 15%, will increase from $25,000 to $27,500, while the annual non-concessional contribution cap will increase from $100,000 to $110,000.

The ATO website https://www.ato.gov.au/rates/key-superannuation-rates-and-thresholds/?anchor=Concessionalcontributionscap#Concessionalcontributionscap says the change is from 1 July 2021.

Please confirm!!

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Comment by Money magazine ()

Money magazine () — Tue, 13 Apr 2021 08:44:14 +1000

Hi Chris,

We have corrected the story to reflect this and apologise for the error.

- Money team

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Comment by Money magazine ()

Money magazine () — Tue, 13 Apr 2021 08:45:08 +1000

Hi Allison,

We unfortunately made an error in this story. The super concessional contributions cap will increase on July 1, not April 1, and we have amended the story to reflect this. Our apologies for the error.

- Money team

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