Previous announcements

Super Guarantee payment

From 1 July 2025, the super-guarantee payment required to be paid by employers to member super accounts will increase from 11.5% to 12.0%.

Super payments on government funded parental leave

The government-funded Paid Parental Leave (PPL) will begin on 1 July 2025. From 1 July 2026, payments will be made directly to individuals' superannuation funds. 

Payday super

Payday is proposed to start on 1 July 2026 and will require employers to pay their employees’ super at the same time as their salary and wages. 

Super tax concessions on large super balances

From 1 July 2025, it was proposed that a 30% concessional tax rate would apply to earnings generated for superannuation balances above $3 million, instead of the current 15%. The new tax was to be included under proposed new Division 296 of the Income Tax Assessment Act 1997 and was proposed to apply at the rate of 15% to the proportion of ‘earnings’ above $3m at the end of the financial year under the following formula: Additional Tax Liability = 15% x Earnings x Proportion of Earnings 

This contentious and much debated measure is not yet law. The Better Targeted Superannuation Tax Concessions Bill is expected to be reintroduced to parliament in July 2025.

Contribution limits

There will be no change to the annual contributions limits for the 2025/26 financial year. The concessional contribution cap will be retained at $30,000 p.a. and the non-concessional annual cap will remain at $120,000, or $360,000 under the bring forward rules.

The Total Super Balance (TSB) and the Transfer Balance Cap (TBC) will be increased to $2 million from 1 July 2025.