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Super rates and rules that apply from 1 July 2022

Media release - 6 June 2022

Superannuation Guarantee rate from 1 July 2022

For the 2022-23 financial year, the Superannuation Guarantee (SG) rate is 10.5% p.a. of Ordinary Time Earnings1 (for 2021-22 it was 10%). This rate is scheduled to rise by 0.5% each financial year until it reaches 12% p.a. by 1 July 2025.

1 Ordinary Time Earnings are generally what employees earn for their ordinary hours of work, including: regular salary, over-award payments, bonuses, commissions, allowances, and paid leave. Overtime is not generally included. See for more information.

Concessional contribution cap

For the 2022-23 financial year, the annual concessional contributions cap is $27,500. Concessional contributions include all employer contributions (including salary sacrifice) from before-tax income as well as personal (voluntary) contributions for which you claim an income tax deduction.

To check your current total amount of concessional contributions made to Australian Retirement Trust, log in to Member Online or the Australian Retirement Trust app, click on the ‘Contributions’ tab and then select ‘Concessional contributions’. If you have other super funds, you need to check with them too.

Work test removed for the 2022-23 financial year onwards

From 1 July 2022, if you are under 75 years of age during the financial year 2022-23 and onwards, your super fund can accept all types of contributions, except downsizer contributions (which can only be made if you are aged 60 years and over).

‘Carry-forward’ concessional contributions

If your ‘total superannuation balance’ is less than $500,000, from the 2019-20 financial year the carry-forward rules allow you to access unused concessional cap amounts from previous years. An unused cap amount occurs when the concessional contributions you made in a financial year were less than your general concessional contributions cap. Unused amounts are available to carry forward for a maximum of five years after which they expire.

For example: if your concessional contributions (which include your employer superannuation guarantee and salary sacrifice contributions) were $15,000 for 2021-22, you would have a carry forward unused amount of $10,000. This means that your concessional contribution cap for 2022-23 is $37,500 ($27,500 concessional contribution cap for 2022-23 plus $10,000 carry forward concessional contributions from 2021-22).

You can see a record of the concessional contributions made to your Super Savings account in Member Online.

Non-concessional contribution cap

From 1 July 2021, the annual non-concessional contribution cap is $110,000.

‘Bring-forward’ rules

From 1 July 2021, if you’re under 75 years of age at any point during the financial year, you may be able to bring forward two years of non-concessional contributions. This allows you to contribute up to three times the cap at once or at any time during the three financial years.

Restrictions on non-concessional contributions for superannuation balances of $1,480,000 or more from 1 July 2022

Provided you are under 75 years of age and depending on your ‘total superannuation balance’ at 30 June 2022, the amount of your non-concessional cap and the amount you can bring-forward may be reduced.

These restrictions are detailed below.

Total superannuation balance on 30 June 2022
Standard non-concessional cap for 2022-23
Bring-forward period
Maximum non-concessional contributions for 2022-23 (including bring-forward rule)
Less than $1.48 million
3 years
Greater than or equal to $1.48 million and less than $1.59 million
2 years
Greater than or equal to $1.59 million and less than $1.7 million
$1.7 million or more

Preservation age

Generally, you’ll be able to withdraw from your super when you’ve reached:

  • your preservation age and are permanently retired from work,
  • the age of 60 and stopped any employment arrangement either on or after turning 60 years, or
  • the age of 65.

Your preservation age depends on when you were born, as shown in the table below.

When were you born?
Preservation age
Before 1 July 1960
1 July 1960 – 30 June 1961
1 July 1961 – 30 June 1962
1 July 1962 – 30 June 1963
1 July 1963 – 30 June 1964

First Home Super Saver Scheme (FHSSS)

If you make voluntary before-tax or after-tax contributions into your super, you may be able to withdraw these contributions plus associated earnings to help purchase your first home. A maximum withdrawal cap of $15,000 in contributions made during a single year or $50,000 in total contributions applies from 1 July 2022.

Tax is payable on withdrawals of before-tax contributions.

It’s important to note that associated earnings are calculated using a deemed rate of return, which may be greater or less than the actual earnings on your account.

Find out more at

Downsizer contributions

From 1 July 2022, if you are aged 60 or older you will be able to contribute the proceeds from selling your home as a one-off contribution to your super, limited to $300,000 per person ($600,000 per couple). To take advantage of this measure, your home must have been owned by you or your spouse for 10 years or more prior to sale, and the contribution must generally be made within 90 days of settlement. This measure does not include investment properties, holiday homes, caravans or other mobile homes. Downsizer contributions do not count towards the non-concessional contributions cap and are not subject to the age restrictions and work test rules that apply to other voluntary contributions.

Find out more at

Spouse contributions

A person making a contribution into the account of their low income earning spouse is eligible for a tax offset of up to a maximum $540 p.a. (18% of a total contribution of up to $3,000) if their spouse earns less than the lower threshold amount.

Total income of recipient spouse
Tax offset 2 available to contributing spouse
$0 - $37,000
Up to $540
$37.000 - $40,000
Between $540 – 03

2 Tax offset applies to a maximum contribution of $3,000 p.a.

3Tax offset proportionally decreases, cutting out when the spouse earns the higher threshold amount.

Low Income Superannuation Tax Offset (LISTO)

The government could boost your super savings by giving you a low income superannuation tax offset (LISTO) provided your annual taxable income is $37,000 or less. The LISTO is 15% of the concessional super contributions you or your employer make. The maximum you’ll receive for a financial year is $500 and the minimum is $10. If you’re eligible for a LISTO and your Tax File Number is on file, the LISTO is paid directly to your super fund. It may take up to 14 months from the end of the financial year for the payment to reach your fund so make sure you check your Annual Statement each year.

Government co-contribution

If your income is less than $57,016 in the 2022-23 financial year and you have made a voluntary after-tax contribution to your account by 30 June each year, the Australian Taxation Office (ATO) will confirm your eligibility to receive the Government co-contribution up to a maximum of $500 per year (for incomes up to $42,016 for 2022-23). The co-contribution gets paid directly into your account after you’ve lodged your tax return for that year if your super fund has your TFN.

Some examples of how much you could receive from 1 July 2022:

Your total income
Your voluntary after-tax contribution
Maximum co-contribution
Up to $42,016
Any amount

Maximum superannuation contribution base

Each year the Government sets a maximum limit on an employee’s income on which their employer needs to pay SG contributions, called the maximum superannuation contribution base. This limit is indexed to Average Weekly Ordinary Time Earnings (AWOTE) and is updated each financial year. For the 2022-23 financial year, the limit is $60,220 per quarter.

Need some financial advice?

Speak to your adviser. If you don’t have a personal financial adviser, Australian Retirement Trust has qualified financial advisers4 who can help you over the phone with simple advice about your Super Savings account. This service is included in your membership fee5. If the advice you need is more complex or comprehensive in nature, we may refer you to an accredited external financial adviser6. Advice of this nature may incur a fee.

4 Australian Retirement Trust employees provide advice as representatives of Sunsuper Financial Services Pty Ltd (ABN 50 087 154 818 AFSL No. 227867) (SFS), wholly owned by Australian Retirement Trust. 5 Sunsuper Financial Services Pty Ltd (ABN 50 087 154 818 AFSL No. 227867) (SFS) is a separate legal entity responsible for the financial services it provides. Eligibility conditions apply. Refer to the Financial Services Guide (pdf) for more information. 6 Australian Retirement Trust has established a panel of accredited external financial advisers who are not employees of Australian Retirement Trust. Australian Retirement Trust is not responsible for the advice provided by these advisers and does not receive or pay any referral fees. These advisers will explain to you how their advice fees are determined.

More information on contributing to super

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