Superannuation contributions for employees

Superannuation contributions for employees

17th May 2018

Effective 1 July 2017, the 10% maximum earnings condition was removed for the 2017-18 and future financial years. This means most people under 75 years old can claim a tax deduction for personal super contributions (including those aged 65 to 74 who meet the work test). Note that you can only contribute up to $25,000 per year into super including what your employer contributes. This is based on what hits the super fund account between 1st July and 30th June the following year.