The changes do not come into effect until 1 July 2024, but they will provide significant opportunities for people to make additional super contributions. The legislated changes include: Removal of Work Test in some circumstances. From 1 July 2024 the work test will no longer need to be met by … See more From 1 July 2024 the work test will no longer need to be met by individuals aged between 67 and 75* when making: 1. salary sacrifice contributions, and 2. personal … See more Individuals will be able to utilise the 3 year NCC bring forward arrangement during a financial year, if they were aged less than 75 on 1 July of that year, subject to … See more From 1 July 2024, eligibility to make Downsizer Super Contributions from your home sale proceeds has been extended by reducing the minimum age to those 60 … See more Currently, up to $30,000 of voluntary super contributions can be released (along with associated earnings) and used for a deposit on a first home. This … See more WebMay 3, 2024 · There are changes to super which take effect from 1 July 2024. The following are changes you should know about: The Super Guarantee (SG) rate to increase to 10.5%. …
Key superannuation rates and thresholds for 2024–23
WebNovember 2024 – Super funds may see a reduction in unclaimed super money (USM) transfers from the ATO when a member is transferring super to a KiwiSaver product for New Zealand individuals. Downsizer Contributions ATO deployment October 2024 to July 2024 – ATO to update eligibility by decreasing the lower limit to 55 years old. WebThe Super Guarantee (SG) is to be increased from 9.5% to 10% on 1 July, 2024. This is a percentage of your wage that your employer has to contribute to your super. SG … chenoweth press llc
Superannuation rule changes from 1 July 2024 - ESSSuper
WebSuper rule changes starting 1 July 2024 Increase in Super Guarantee percentage From 1 July 2024, the percentage rate for the Super Guarantee (SG) increases from 10% to … WebJul 1, 2024 · The Super Guarantee (SG)rate has now increased from 9.5% to 10%, effective 1 July, 2024. The SG rate determines the amount of money employers have to contribute to … WebThe Super Guarantee (SG) is to be increased from 9.5% to 10% on 1 July, 2024. This is a ... Some of the biggest changes to super system is happening in 2024/22. chenoweth properties llc