Don’t forget superannuation paid on behalf of all employees (including owners/directors) has increased to 10% for wages paid (bank transfer) on or after 1st July 2021 (based on payment date not period worked).
Annual concessional super contribution caps have increased to $27,500 for the 2021/22 financial year.
Concessional contributions include:
– employer contributions (including contributions made under a salary sacrifice arrangement)
– personal contributions claimed as a tax deduction.
If you have more than one fund, all concessional contributions made to all of your funds are added together and counted towards your concessional contributions cap.