About other super rates and thresholds
These rates and thresholds applied up to 30 June 2007 for super contributions and benefits, employment termination payments, super guarantee and co-contributions.
Self-managed super fund supervisory levy
Self-managed super funds (SMSFs) are required to pay a supervisory levy to us on an annual basis. You need to pay the supervisory levy with your SMSF annual return. The amount payable is stated on the return.
SMSF limited recourse borrowing arrangements interest rates
The following interest rates charged under a SMSF limited recourse borrowing arrangement (LRBA) would be consistent with the safe harbour terms outlined in Practical Compliance Guidelines (PCG) 2016/5 Income tax arm’s-length terms for limited recourse borrowing arrangements established by self-managed superannuation funds.
Year |
Real property |
Listed shares or units |
---|---|---|
2024–25 |
9.35% |
11.35% |
2023–24 |
8.85% |
10.85% |
2022–23 |
5.35% |
7.35% |
2021–22 |
5.10% |
7.10% |
2020–21 |
5.10% |
7.10% |
2019–20 |
5.94% |
7.94% |
2018–19 |
5.80% |
7.80% |
2017–18 |
5.80% |
7.80% |
2016–17 |
5.65% |
7.65% |
2015–16 |
5.75% |
7.75% |
Deduction limits based on age
Up to the 2006–07 income year, super contributions were deductible for income tax purposes in the year you made them, up to certain amounts called the age-based limits. The following limits apply to:
- employers and their associates claiming deductions for contributions made for the benefit of an employee
- individuals claiming a deduction for personal super contributions.
Income year |
Under age 35 |
Age 35 to 49 |
Age 50 to 70 |
---|---|---|---|
2006–07 |
$15,260 |
$42,385 |
$105,113 |
2005–06 |
$14,603 |
$40,560 |
$100,587 |
2004–05 |
$13,934 |
$38,702 |
$95,980 |
2003–04 |
$13,233 |
$36,754 |
$91,149 |
2002–03 |
$12,651 |
$35,138 |
$87,141 |
2001–02 |
$11,912 |
$33,086 |
$82,053 |
2000–01 |
$11,388 |
$31,631 |
$78,445 |
1999–2000 |
$10,929 |
$30,356 |
$75,283 |
1998–99 |
$10,600 |
$29,443 |
$73,019 |
1997–98 |
$10,232 |
$28,420 |
$70,482 |
1996–97 |
$9,782 |
$27,170 |
$67,382 |
1995–96 |
$9,405 |
$26,125 |
$64,790 |
1994–95 |
$9,000 |
$25,000 |
$62,000 |
Deductibility could only be considered where the contribution was paid on or before the 28th day of the month following the month in which the relevant person turned 70 years old. ‘Age’ is the person’s age at the date the last contribution was made for them for the year.
Contributions paid in any year, after 30 June but before the super guarantee contribution deadline (28 July) for the quarter ending 30 June, can't be claimed as a deduction until the end of the next financial year. For example, super contributions made on 30 June 2005 can be claimed as a deduction in the 2004–05 year. Contributions made on 28 July 2005 can be claimed as a deduction in the 2005–06 year.
Allocated pension payments
Up to 30 June 2007, the rules governing allocated pensions allowed for payments between the minimum and maximum limits. To obtain the limits, the pension account balance was divided by each of the maximum and the minimum pension valuation factors in the schedule matching the recipient's age.
The following table is an extract from Schedule 1AAB of SISR which sets out the maximum and minimum pension valuation factors for pensions starting from 1 January 2006.
Age of beneficiary |
Maximum pension valuation factor |
Minimum pension valuation factor |
---|---|---|
63 |
10.3 |
18.1 |
64 |
10.1 |
17.7 |
65 |
9.9 |
17.3 |
66 |
9.6 |
16.8 |
67 |
9.3 |
16.4 |
68 |
9.1 |
16.0 |
For pensions that started before 1 January 2006, different pension valuation factors apply. Transitional rules also applied for the period between 1 January 2006 and 30 June 2006.
Pension valuation factors
The following tables set out the maximum and minimum pension valuation factors used to calculate maximum and minimum payment limits for pensions and annuities.
Note: Transitional rules apply to new pensions that start from 1 January 2006 to 30 June 2006. During this time, funds may apply the new or the previous pension valuation factor rates (but only to new pensions).
For information on SMSF pension standards, see Pension standards for self-managed super funds.
Age of beneficiary |
Maximum pension valuation factor |
Minimum pension valuation factor |
---|---|---|
20 or less |
12.0 |
29.2 |
21 |
12.0 |
29.0 |
22 |
12.0 |
28.9 |
23 |
12.0 |
28.7 |
24 |
12.0 |
28.6 |
25 |
12.0 |
28.4 |
26 |
12.0 |
28.3 |
27 |
12.0 |
28.1 |
28 |
12.0 |
27.9 |
29 |
12.0 |
27.8 |
30 |
12.0 |
27.6 |
31 |
12.0 |
27.4 |
32 |
12.0 |
27.2 |
33 |
12.0 |
27.0 |
34 |
12.0 |
26.8 |
35 |
12.0 |
26.6 |
36 |
12.0 |
26.4 |
37 |
12.0 |
26.2 |
38 |
12.0 |
26.0 |
39 |
12.0 |
25.8 |
40 |
12.0 |
25.5 |
41 |
12.0 |
25.3 |
42 |
12.0 |
25.0 |
43 |
12.0 |
24.8 |
44 |
12.0 |
24.5 |
45 |
12.0 |
24.2 |
46 |
12.0 |
24.0 |
47 |
12.0 |
23.7 |
48 |
12.0 |
23.4 |
49 |
12.0 |
23.1 |
50 |
12.0 |
22.8 |
51 |
11.9 |
22.5 |
52 |
11.8 |
22.2 |
53 |
11.8 |
21.8 |
54 |
11.7 |
21.5 |
55 |
11.5 |
21.1 |
56 |
11.4 |
20.8 |
57 |
11.3 |
20.4 |
58 |
11.2 |
20.1 |
59 |
11.0 |
19.7 |
60 |
10.9 |
19.3 |
61 |
10.7 |
18.9 |
62 |
10.5 |
18.5 |
63 |
10.3 |
18.1 |
64 |
10.1 |
17.7 |
65 |
9.9 |
17.3 |
66 |
9.6 |
16.8 |
67 |
9.3 |
16.4 |
68 |
9.1 |
16.0 |
69 |
8.7 |
15.5 |
70 |
8.4 |
15.1 |
71 |
8.0 |
14.6 |
72 |
7.6 |
14.2 |
73 |
7.2 |
13.7 |
74 |
6.7 |
13.3 |
75 |
6.2 |
12.8 |
76 |
5.7 |
12.3 |
77 |
5.1 |
11.9 |
78 |
4.5 |
11.4 |
79 |
3.8 |
10.9 |
80 |
3.1 |
10.5 |
81 |
2.3 |
10.0 |
82 |
1.4 |
9.6 |
83 |
1 |
9.1 |
84 |
1 |
8.7 |
85 |
1 |
8.3 |
86 |
1 |
7.9 |
87 |
1 |
7.5 |
88 |
1 |
7.2 |
89 |
1 |
6.9 |
90 |
1 |
6.6 |
91 |
1 |
6.3 |
92 |
1 |
6.0 |
93 |
1 |
5.8 |
94 |
1 |
5.5 |
95 |
1 |
5.3 |
96 |
1 |
5.1 |
97 |
1 |
4.9 |
98 |
1 |
4.7 |
99 |
1 |
4.5 |
100 or more |
1 |
4.4 |
Source: Schedule 1AAB Superannuation Industry (Supervision) Amendment Regulations 1994
Age of beneficiary |
Maximum pension valuation factor |
Minimum pension valuation factor |
---|---|---|
20 or less |
10 |
28.6 |
21 |
10 |
28.5 |
22 |
10 |
28.3 |
23 |
10 |
28.1 |
24 |
10 |
28.0 |
25 |
10 |
27.8 |
26 |
10 |
27.6 |
27 |
10 |
27.5 |
28 |
10 |
27.3 |
29 |
10 |
27.1 |
30 |
10 |
26.9 |
31 |
10 |
26.7 |
32 |
10 |
26.5 |
33 |
10 |
26.3 |
34 |
10 |
26.0 |
35 |
10 |
25.8 |
36 |
10 |
25.6 |
37 |
10 |
25.3 |
38 |
10 |
25.1 |
39 |
10 |
24.8 |
40 |
10 |
24.6 |
41 |
10 |
24.3 |
42 |
10 |
24.0 |
43 |
10 |
23.7 |
44 |
10 |
23.4 |
45 |
10 |
23.1 |
46 |
10 |
22.8 |
47 |
10 |
22.5 |
48 |
10 |
22.2 |
49 |
10 |
21.9 |
50 |
9.9 |
21.5 |
51 |
9.9 |
21.2 |
52 |
9.8 |
20.9 |
53 |
9.7 |
20.5 |
54 |
9.7 |
20.1 |
55 |
9.6 |
19.8 |
56 |
9.5 |
19.4 |
57 |
9.4 |
19.0 |
58 |
9.3 |
18.6 |
59 |
9.1 |
18.2 |
60 |
9.0 |
17.8 |
61 |
8.9 |
17.4 |
62 |
8.7 |
17.0 |
63 |
8.5 |
16.6 |
64 |
8.3 |
16.2 |
65 |
8.1 |
15.7 |
66 |
7.9 |
15.3 |
67 |
7.6 |
14.9 |
68 |
7.3 |
14.4 |
69 |
7.0 |
14.0 |
70 |
6.6 |
13.5 |
71 |
6.2 |
13.1 |
72 |
5.8 |
12.6 |
73 |
5.4 |
12.2 |
74 |
4.8 |
11.7 |
75 |
4.3 |
11.3 |
76 |
3.7 |
10.8 |
77 |
3.0 |
10.4 |
78 |
2.2 |
10.0 |
79 |
1.4 |
9.5 |
80 |
1 |
9.1 |
81 |
1 |
8.7 |
82 |
1 |
8.3 |
83 |
1 |
7.9 |
84 |
1 |
7.5 |
85 |
1 |
7.1 |
86 |
1 |
6.8 |
87 |
1 |
6.4 |
88 |
1 |
6.1 |
89 |
1 |
5.8 |
90 |
1 |
5.5 |
91 |
1 |
5.3 |
92 |
1 |
5.0 |
93 |
1 |
4.8 |
94 |
1 |
4.6 |
95 |
1 |
4.4 |
96 |
1 |
4.2 |
97 |
1 |
4.0 |
98 |
1 |
3.8 |
99 |
1 |
3.7 |
100 or more |
1 |
3.5 |
Source: Schedule 1A Superannuation Industry (Supervision) Amendment Regulations 1994
Low rate threshold – post-June 1983 components of eligible termination payments
Up to 30 June 2007, if your benefits include eligible termination payments (ETPs) and you were aged 55 years or over when you received the ETP, then the cash amount of the post-June 1983 component is taxed at lower rates until you reach your low rate threshold (LRT).
The following table contains the LRT limits. The LRT is a lifetime limit, indexed each financial year.
Income year |
Threshold |
---|---|
2006–07 |
$135,590 |
2005–06 |
$129,751 |
2004–05 |
$123,808 |
2003–04 |
$117,576 |
2002–03 |
$112,405 |
2001–02 |
$105,843 |
2000–01 |
$101,188 |
1999–2000 |
$97,109 |
1998–99 |
$94,189 |
1997–98 |
$90,916 |
1996–97 |
$86,917 |
1995–96 |
$83,574 |
1994–95 |
$79,975 |
1993–94 |
$77,796 |
1992–93 |
$76,949 |
1991–92 |
$73,776 |
1990–91 |
$68,628 |
1989–90 |
$64,500 |
1988–89 |
$60,000 |
1987–88 |
$55,000 |
Tax free part of bona fide redundancy and approved early retirement scheme payments limits
The following table shows the limit set for bona fide redundancy and early retirement payments that applied prior to 1 July 2007. The tax free amount is not an eligible termination payment.
Income year |
Base limit |
Per complete year of service |
---|---|---|
2006–07 |
$6,783 |
$3,392 |
2005–06 |
$6,491 |
$3,246 |
2004–05 |
$6,194 |
$3,097 |
2003–04 |
$5,882 |
$2,941 |
2002–03 |
$5,623 |
$2,812 |
2001–02 |
$5,295 |
$2,648 |
2000–01 |
$5,062 |
$2,531 |
1999–2000 |
$4,858 |
$2,429 |
1998–99 |
$4,712 |
$2,356 |
1997–98 |
$4,548 |
$2,274 |
1996–97 |
$4,348 |
$2,174 |
1995–96 |
$4,180 |
$2,090 |
1994–95 |
$4,000 |
$2,000 |
- For more information on preparing for retirement, see Planning to retire.
- Approved early retirement schemes.
Reasonable benefit limits
Up to 30 June 2007, the following table can be used to determine the concessional tax rates limits of a reasonable benefit limit (RBL) for a particular financial year. The table includes both the pension and lump sum RBL.
Income year |
Lump sum |
Pension |
---|---|---|
2006–07 |
$678,149 |
$1,356,291 |
2005–06 |
$648,946 |
$1,297,886 |
2004–05 |
$619,223 |
$1,238,440 |
2003–04 |
$588,056 |
$1,176,106 |
2002–03 |
$562,195 |
$1,124,384 |
2001–02 |
$529,373 |
$1,058,742 |
2000–01 |
$506,092 |
$1,012,181 |
1999–2000 |
$485,692 |
$971,382 |
1998–99 |
$471,088 |
$942,175 |
1997–98 |
$454,718 |
$909,435 |
1996–97 |
$434,720 |
$869,440 |
1995–96 |
$418,000 |
$836,000 |
1994–95 |
$400,000 |
$800,000 |
Transitional reasonable benefit limits indexation factors
The information in the following table gives transitional RBL indexation factors and can be used to index a previous financial year's reasonable benefit limits to the current year in line with inflation.
Income year |
Indexation factor |
---|---|
2006–07 |
1.045 |
2005–06 |
1.048 |
2004–05 |
1.053 |
2003–04 |
1.046 |
2002–03 |
1.062 |
2001–02 |
1.046 |
2000–01 |
1.042 |
1999–2000 |
1.031 |
1998–99 |
1.036 |
1997–98 |
1.046 |
1996–97 |
1.040 |
1995–96 |
1.045 |
Super contributions surcharge
Adjusted taxable income
The surcharge rate varied and was calculated using a person’s adjusted taxable income (ATI). Before 1 July 2003, the maximum surcharge rate was 15%. From 1 July 2003, the maximum surcharge rate was reduced then phased out. The maximum surcharge rate was:
- 14.5% in 2003–04
- 12.5% in 2004–05
- 0% in 2005–06 and beyond.
No surcharge is payable in respect of super contributions or termination payments made on or after 1 July 2005.
For information on the super contributions surcharge, see:
Income year |
Lower income amount |
Higher income amount |
A (as per formula) |
Indexation factor |
---|---|---|---|---|
2005–06 |
See Note 1 |
See Note 1 |
See Note 1 |
See Note 1 |
2004–05 |
$99,710 |
$121,075 |
1709.20000 |
1.053 |
2003–04 |
$94,691 |
$114,981 |
1399.31034 |
1.046 |
Note 1: No surcharge is payable for super contributions or termination payments made on or after 1 July 2005.
Income year |
Lower limit |
Upper limit |
Divisor |
Indexation factor |
---|---|---|---|---|
2002–03 |
$90,527 |
$109,924 |
$1,295 |
1.062 |
2001–02 |
$85,242 |
$103,507 |
$1,219 |
1.046 |
2000–01 |
$81,493 |
$98,955 |
$1,165 |
1.042 |
1999–2000 |
$78,208 |
$94,966 |
$1,118 |
1.031 |
1998–99 |
$75,856 |
$92,111 |
$1,084 |
1.036 |
1997–98 |
$73,220 |
$88,910 |
$1,046 |
1.046 |
1996–97 |
$70,000 |
$85,000 |
$1,000 |
– |
For information on the termination payments surcharge, see Superannuation surcharge – information for individuals (NAT 15263).
10-year Treasury bond rate
The 10-year Treasury bond rate is used by unfunded defined benefits providers to calculate and debit interest to their members' surcharge debt accounts where applicable. It is also used by us, where applicable, to calculate and debit interest to the surcharge debt accounts of members of constitutionally protected funds.
As at |
10-year Treasury bond rate |
---|---|
30 June 2024 |
4.31% |
30 June 2023 |
4.03% |
30 June 2022 |
3.67% |
30 June 2021 |
1.49% |
30 June 2020 |
0.87% |
30 June 2019 |
1.32% |
30 June 2018 |
2.63% |
30 June 2017 |
2.60% |
30 June 2016 |
1.98% |
30 June 2015 |
3.01% |
30 June 2014 |
3.54% |
30 June 2013 |
3.76% |
30 June 2012 |
3.04% |
30 June 2011 |
5.21% |
30 June 2010 |
5.10% |
30 June 2009 |
5.52% |
30 June 2008 |
6.45% |
30 June 2007 |
6.26% |
30 June 2006 |
5.79% |
30 June 2005 |
5.11% |
30 June 2004 |
5.87% |
30 June 2003 |
5.01% |
30 June 2002 |
5.99% |
30 June 2001 |
6.04% |
30 June 2000 |
6.16% |
30 June 1999 |
6.27% |
30 June 1998 |
5.58% |
30 June 1997 |
7.05% |
Source: Reserve Bank of Australia, Interest Rates, Capital market yields – Government bonds daily
The rate is determined as follows:
- if any Treasury bonds with a 10-year term are issued on 30 June, the rate is the annual yield on those bonds
- if no Treasury bonds with a 10-year term are issued on 30 June, the rate is the annual yield as published for that day on the Reserve Bank of Australia website as Treasury bonds – Yields – 10-year term.
Average weekly ordinary time earnings (AWOTE)
The AWOTE figure for the relevant quarter is used to index some of these thresholds.
The index number used for a quarter is the original (not the trend or seasonally adjusted) estimate of full-time adult AWOTE for the middle month of the quarter, as first published by the Australian Statistician (refer to ABS catalogue number 6302.0).
Note: First published AWOTE figures are used for the indexation of thresholds. The ABS revised their historical AWOTE figures from August 1996 to May 2008 to exclude all salary sacrificed amounts. However, this has no impact on super thresholds. For more information on the revised AWOTE figures, refer to the ABS websiteExternal Link.
Year |
March quarter |
June quarter |
September quarter |
December quarter |
---|---|---|---|---|
2023 |
n/a |
1,838.10 |
n/a |
1,888.80 |
2022 |
n/a |
1,769.80 |
n/a |
1,807.70 |
2021 |
n/a |
1,737.10 |
n/a |
1,748.40 |
2020 |
n/a |
1,713.90 |
n/a |
1,711.60 |
2019 |
n/a |
1,634.80 |
n/a |
1,658.40 |
2018 |
n/a |
1,585.30 |
n/a |
1,605.50 |
2017 |
n/a |
1,543.20 |
n/a |
1,569.60 |
2016 |
n/a |
1,516.00 |
n/a |
1,533.40 |
2015 |
n/a |
1,483.10 |
n/a |
1,500.50 |
2014 |
n/a |
1,454.10 |
n/a |
1,477.00 |
2013 |
n/a |
1,420.90 |
n/a |
1,437.00 |
2012 |
1,348.10 |
1,349.20 |
n/a |
1,396.00 |
2011 |
1,291.30 |
1,304.70 |
1,324.90 |
1,330.10 |
2010 |
1,243.90 |
1,250.10 |
1,258.80 |
1,275.20 |
2009 |
1,183.40 |
1,195.60 |
1,204.20 |
1,226.80 |
2008 |
1,124.80 |
1,131.10 |
1,151.40 |
1,165.30 |
2007 |
1,073.80 |
1,090.00 |
1,105.10 |
1,108.50 |
2006 |
1,037.50 |
1,041.60 |
1,053.00 |
1,058.60 |
2005 |
992.90 |
1,006.70 |
1,023.20 |
1,025.70 |
2004 |
947.80 |
949.50 |
962.90 |
976.40 |
2003 |
900.40 |
921.00 |
929.60 |
938.40 |
2002 |
860.50 |
866.80 |
879.40 |
889.60 |
2001 |
810.60 |
824.10 |
838.50 |
848.70 |
2000 |
774.80 |
784.20 |
796.10 |
800.40 |
1999 |
743.80 |
747.30 |
753.00 |
764.20 |
1998 |
721.30 |
725.20 |
735.40 |
742.70 |
1997 |
696.10 |
697.60 |
704.30 |
710.90 |
1996 |
665.80 |
671.20 |
674.60 |
685.50 |
1995 |
639.90 |
647.20 |
653.10 |
661.00 |
1994 |
612.30 |
616.90 |
620.00 |
629.90 |
1993 |
595.50 |
598.00 |
600.80 |
603.50 |
1992 |
588.80 |
587.30 |
585.70 |
586.90 |
1991 |
564.30 |
560.20 |
567.50 |
580.10 |
1990 |
524.80 |
534.50 |
541.70 |
554.40 |
1989 |
493.40 |
501.40 |
509.70 |
516.80 |
1988 |
458.80 |
465.60 |
470.10 |
484.50 |
1987 |
429.60 |
435.60 |
446.00 |
450.00 |
1986 |
404.90 |
408.30 |
419.80 |
428.40 |
1985 |
378.00 |
383.10 |
388.80 |
397.10 |
1984 |
353.60 |
364.90 |
369.40 |
375.20 |
1983 |
335.20 |
336.50 |
339.80 |
351.70 |
1982 |
293.50 |
306.00 |
317.70 |
331.50 |
1981 |
270.70 |
295.10 |
304.00 |
285.20 |
1980 |
245.70 |
256.70 |
268.10 |
289.10 |
1979 |
222.70 |
232.80 |
238.30 |
248.00 |
1978 |
205.20 |
215.50 |
218.90 |
229.10 |
1977 |
182.90 |
198.70 |
203.90 |
213.60 |
1976 |
165.30 |
180.70 |
184.70 |
195.50 |
1975 |
143.80 |
156.40 |
157.10 |
172.40 |
1974 |
105.60 |
119.90 |
129.00 |
143.90 |
1973 |
90.80 |
100.80 |
103.10 |
112.20 |
1972 |
83.40 |
90.60 |
90.50 |
97.30 |
1971 |
76.40 |
83.70 |
84.30 |
89.90 |
Note: From September 2012, the ABS no longer produces data for March or September. ABS data used with permission from the Australian Bureau of StatisticsExternal Link.