Maximum Super Contribution

What is maximum super contribution?

The maximum super contribution, specifically the concessional contribution, is $27,500 per financial year in Australia. This includes both employer contributions and salary sacrificed contributions. It’s important to note that any unused concessional contributions can be carried forward for a maximum of five years.

What is the maximum super contribution for 2023?

The maximum super contribution for 2023, specifically for Superannuation Guarantee (SG) purposes, is $62,270 per quarter. This represents the maximum limit on an individual employee’s earnings base for each quarter of the 2023-24 financial year. It’s important to note that this limit applies specifically to Superannuation Guarantee contributions and may be subject to change in subsequent years.

How can Workstem assist you?

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By automating the payroll process in accordance with Fair Work and EBAs, Workstem simplifies tasks such as overtime pay, allowances, loadings, and leave cashing out. The STP 2 reporting feature also enables businesses to comply with ATO.

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