10 Superannuation
Federal Budget 2023 Proposals
- From 1 July 2025, the concessional rate of tax applied to earnings of a member’s superannuation above $3m will increase to a rate of 30%. At this stage, the $3m cap is not indexed. Individuals can either pay the additional tax personally or from their superannuation fund.
- The Government has announced that employers will be required to pay their employees’ SG entitlements at the same time as their salary and wages, rather than quarterly as is the current requirement. This will take place from 1 July 2026.
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