Super Rates and Thresholds for 2011 Financial Year Released
- Arnold Shields
- Apr 8, 2010
- 2 min read
Updated: Jun 20
Stay on top of the latest superannuation changes for the 2010/11 financial year
The Australian Taxation Office (ATO) has confirmed the superannuation contribution caps and pension income stream thresholds that apply for the 2011 financial year. Here’s a summary of the key updates that affect concessional and non-concessional contributions, as well as account-based pension payments.
Superannuation Contribution Caps for 2010/11
Type of Contribution | 2010/11 Cap | Change from 2009/10 |
Concessional Contributions Cap | $25,000 | No change |
Non-concessional Contributions Cap | $450,000 (3-year bring-forward rule) | No change |
CGT Non-concessional Contributions Cap | $1,155,000 | ↑ $55,000 |
Low Rate Cap for Super Lump Sums | $160,000 | ↑ $10,000 |
Special Concessional Contribution Cap
Taxpayers aged 50 or over at any time during the 2010/11 financial year may still contribute up to $50,000 in concessional contributions under the transitional cap.
⚠️ Note: This transitional cap will be removed from 1 July 2012, and it is not indexed.
Minimum Annual Payment for Account-Based Income Streams
From 1 July 2010, the temporary 50% reduction in minimum pension payments that applied during the GFC (2008/09 and 2009/10) has now ended. The standard minimum drawdown rates will resume.
Age at 1 July | Minimum Annual Payment |
Under 65 | 4% |
65 to 74 | 5% |
75 to 79 | 6% |
80 to 84 | 7% |
85 to 89 | 9% |
90 to 94 | 11% |
95 or more | 14% |
These rates apply to account-based pensions and transition-to-retirement (TTR) pensions.
Still Waiting on Government Co-contribution Thresholds
As of this update, the ATO has not yet released the income thresholds for the Government Co-contribution for the 2010/11 financial year. We will publish these figures as soon as they are announced.
What This Means for You
If you're approaching retirement or planning your contribution strategy, now is the time to review your super. Whether you're making the most of the transitional $50,000 concessional cap or preparing for regular drawdowns from your pension account, compliance with the correct thresholds can help avoid penalties and optimise your retirement savings.
📞 Need help navigating your super contributions?
Contact Dolman Bateman for tailored advice on contribution strategies and pension planning.
Disclaimer:
The information provided in this article is general in nature and does not constitute personal financial, legal or tax advice. While every effort has been made to ensure the accuracy of this content at the time of publication, tax laws and regulations may change, and individual circumstances vary. Dolman Bateman accepts no responsibility or liability for any loss or damage incurred as a result of acting on or relying upon any of the information contained herein. You should seek professional advice tailored to your specific situation before making any financial or tax decision.
