The current contributions cap will reduce to $25,000 from 1 July 2017.
|Current Concessional cap||From 1 July 2017|
|Under age 50||$30,000||$25,000|
|50 and over||$35,000||$25,000|
From 1 July 2017, the Government will include notional (estimated) and actual employer contributions in the concessional contributions cap for members of unfunded defined benefit schemes and constitutionally protected funds. Members of these funds will have opportunities to salary sacrifice commensurate with members of accumulation funds. For individuals who were members of a funded defined benefit scheme as at 12 May 2009, the existing grandfathering arrangements will continue.
Date of effect: 1 July 2017