Super Updates – Dec 2021
There is the latest Super Updates before End of the year.
ATO Preservation Age
The Preservation Age remains 58 until 30 June 2022
From 1 July 2022 the Preservation age will be 59
Your preservation age depends on when you were born. You can use this table to work out your preservation age.
| Preservation age based on date of birth | |
| Date of birth | Preservation age |
| Earlier than 1 July 1960 | 55 |
| 1 July 1960 – 30 June 1961 | 56 |
| 1 July 1961 – 30 June 1962 | 57 |
| 1 July 1962 – 30 June 1963 | 58 |
| 1 July 1963 – 30 June 1964 | 59 |
| From 1 July 1964 | 60 |
What does the preservation age mean?
Preservation age is so-called because your super benefits are ‘preserved’, or locked away, until you reach your preservation age and meet a release condition. Super benefits are simply the sum of all contributions made by you or your employer over the years plus investment earnings.
Note:
Your preservation age isn’t the same as your pension age. Your preservation age is the age at which you can access your super if you’re retired (or have started a transition to a retirement income stream). Refer to Services Australia for the age pension eligibility requirements.
Other information:
Super Transfer Balance Caps Updates:
The General Transfer Balance Cap increased to $1.7 Million dollars on the 1 July
| First transfer date* | Transfer amount | Transfer balance cap from 1 July 2021 |
| On or after 1 July 2021 | Up to $1.7 million | $1.7 million |
| Before 1 July 2021 | Less than $1.6 million | $1.6 million – $1.7 million |
| Before 1 July 2021 | $1.6 million | $1.6 million |
* Transfer date refers to the day that you first commenced a retirement pension.
Concessional Contributions Cap $27500
Non-concessional Contributions Cap $110,000
CGT Cap Amount $1625000
Low-Rate Cap $225000
Untaxed Plan Cap $1615000
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