The numbers
Every figure on this site gets checked against the regulator that publishes it, then dated, then checked again when the rules move. We read the rates lists so you don't have to.
What changed on 1 July 2026
Australian Taxation Office · Contributions caps, updated 24 April 2026 · General transfer balance cap indexation on 1 July 2026, published 19 February 2026 · Better targeted superannuation concessions, updated 24 March 2026 · Super guarantee, updated 17 April 2026 · Federal Register of Legislation, Treasury Laws Amendment (More Cost of Living Relief) Act 2025 (No. 28 of 2025, assent 27 March 2025) · Parliament of Australia, Act No. 8 of 2026 (assent 13 March 2026) · Department of Social Services, Indexation Rates July 2026 rates list checked 11 Jun 2026
On 1 July, five of the headline super numbers on this page got bigger, a tax rate got smaller, and two entirely new regimes switched on. Here is the changeover sheet: what moved, where it landed, and who says so.
| Item | 2025-26 (old) | Now, from 1 July 2026 | Source |
|---|---|---|---|
| Concessional contributions cap | $30,000 | $32,500 | ATO |
| Non-concessional contributions cap | $120,000 | $130,000 | ATO |
| Maximum bring-forward | $360,000 | $390,000 | ATO |
| General transfer balance cap | $2.0 million | $2.1 million | ATO |
| Tax rate on $18,201 – $45,000 | 16% | 15% (then 14% from 1 July 2027) | Act No. 28 of 2025 |
| Division 296 tax on large balances | Not in force | In force: extra 15% on the share of earnings above $3m total super balance, plus 10% above $10m | ATO; Act No. 8 of 2026 |
| How employers pay super | Quarterly SG | Payday Super: SG each payday, on qualifying earnings | ATO |
| Income test free area (single / couple) | $218 / $380 per fortnight | $226 / $396 | DSS |
| Assets free area, homeowner (single / couple) | $321,500 / $481,500 | $333,000 / $499,000 | DSS |
| Assets free area, non-homeowner (single / couple) | $579,500 / $739,500 | $600,000 / $766,000 | DSS |
| Asset cut-off, homeowner (single / couple) | $722,000 / $1,085,000 | $733,500 / $1,102,500 | DSS |
| Asset cut-off, non-homeowner (single / couple) | $980,000 / $1,343,000 | $1,000,500 / $1,369,500 | DSS |
| Income cut-off (single / couple, per fortnight) | $2,619.80 / $4,000.80 | $2,627.80 / $4,016.80 | DSS |
| Deeming thresholds (single / couple combined) | $64,200 / $106,200 | $66,800 / $110,600 | DSS |
| Retirement village extra allowable amount | $258,000 | $267,000 | DSS |
Division 296 became law in March 2026 (assent 13 March 2026). It taxes a share of super earnings at the individual level; the first total super balance test date is 30 June 2027, so first assessments are expected from 2027-28. The final law does not tax unrealised gains, and both thresholds are CPI-indexed. Maximum Age Pension rates do not change on 1 July; they are indexed on 20 March and 20 September.
Superannuation contribution caps & thresholds
Australian Taxation Office · Contributions caps, updated 24 April 2026 · Non-concessional contributions cap, updated 7 May 2026 · Division 293 tax, updated 8 December 2025 · Government contributions, updated 27 April 2026 checked 11 Jun 2026
The 2026-27 column is what applies right now. The 2025-26 column stays for reference, because carry-forward maths and last year's paperwork still reach back into it. Indexation is the rare kind of pay rise nobody emails you about.
| Item | 2025-26 (prior) | 2026-27 (current) | Notes |
|---|---|---|---|
| Super guarantee rate | 12% | 12% | Final legislated step, from 1 July 2025; no further increases legislated |
| Concessional (before-tax) cap | $30,000 | $32,500 | Includes employer SG, salary sacrifice and personal deductible contributions |
| Non-concessional (after-tax) cap | $120,000 | $130,000 | Nil if total super balance is at or above the transfer balance cap at the prior 30 June |
| Maximum bring-forward | $360,000 | $390,000 | Total super balance tiers apply; once triggered, the cap locks at the year-one amount |
| Carry-forward concessional | 5 years of unused cap | 5 years of unused cap | Total super balance under $500,000 at the prior 30 June; the 2020-21 slice expired 30 June 2026, and unused 2021-22 cap expires 30 June 2027 |
| Transfer balance cap | $2.0 million | $2.1 million | Personal caps rise proportionally; only first-time pension starters get the full $2.1m |
| Contributions tax | 15% | 15% | Extra 15% on the slice above $250,000 income (Division 293); threshold not indexed |
| Government co-contribution | Up to $500 | Up to $500 | Income thresholds $49,293 / $64,293 for 2026-27 (2025-26: $47,488 / $62,488) |
Super guarantee rate: the 33-year climb
Australian Taxation Office · Super guarantee, historical SG schedule (Table 21), updated 17 April 2026 checked 11 Jun 2026
From 3% to 12% took 33 years and roughly six governments. The rate now stays flat at 12%; from 1 July 2026 the change is in the plumbing, with employers required to pay super every payday instead of quarterly.
Resident income tax rates, 2026-27
Moneysmart (ASIC) · Income tax, accessed 11 June 2026 · Federal Register of Legislation, Treasury Laws Amendment (More Cost of Living Relief) Act 2025 (No. 28 of 2025, assent 27 March 2025) · Budget 2026-27, Cost of living checked 11 Jun 2026
The brackets below are the 2026-27 settings, including the second-bracket cut that landed on 1 July 2026: 16% became 15%, worth up to $268 a year. The next step is already law too: 14% from 1 July 2027, worth up to $536 against the old 16% rate.
| Taxable income | Marginal rate | Tax payable |
|---|---|---|
| $0 – $18,200 | 0% | Nil |
| $18,201 – $45,000 | 15% | 15c per $1 over $18,200 |
| $45,001 – $135,000 | 30% | $4,020 + 30c per $1 over $45,000 |
| $135,001 – $190,000 | 37% | $31,020 + 37c per $1 over $135,000 |
| $190,001 + | 45% | $51,370 + 45c per $1 over $190,000 |
Excludes the 2% Medicare levy and tax offsets. The $18,201 – $45,000 bracket was taxed at 16% in 2025-26; the legislated rate is 15% for 2026-27, then 14% for 2027-28 and later years.
ASFA retirement standard, December quarter 2025
Association of Superannuation Funds of Australia · ASFA Retirement Standard, December quarter 2025, released 24 February 2026 checked 11 Jun 2026
ASFA's December quarter release lifted the lump-sum benchmarks for the first time in three years. A comfortable single retirement now prices at $630,000 at age 67; the advertising industry's favourite $1 million figure remains nowhere in the methodology.
| Lifestyle | Single, per year | Couple, per year | Lump sum at 67 (single / couple) |
|---|---|---|---|
| Comfortable | $54,840 | $77,375 | $630,000 / $730,000 |
| Modest (homeowner) | $35,503 | $51,299 | $110,000 / $120,000 |
| Modest (private renter) | $50,055 | $67,639 | $340,000 / $385,000 |
| Age Pension plus supplements (reference) | $30,646 | $46,202 | n/a |
Budgets are for retirees aged 65–84. Assumptions: retirement at 67, home ownership (except the renter row), full drawdown of capital, a part Age Pension, and investment returns of 6% a year. Renters need substantially more than homeowners at the same living standard.
Age Pension: rates and test thresholds
Department of Social Services · Social Security Payment Parameters, 20 March 2026 indexation rates list, published 10 March 2026 · Services Australia, Assets test, Income test and Work Bonus pages, accessed 11 June 2026 checked 11 Jun 2026
Maximum rates took effect on 20 March 2026 and hold until 19 September 2026. Free areas and cut-offs reset on 1 July 2026, and the table below shows the new values; the changeover history sits in the 1 July card at the top of this page.
| Item | Single | Couple (combined) |
|---|---|---|
| Maximum rate, per fortnight (incl. supplements) | $1,200.90 | $1,810.40 |
| Annualised (26 fortnights) | About $31,223 | About $47,070 |
| Income test free area, per fortnight | $226 | $396 |
| Income taper rate | 50 cents per dollar over the free area (combined for couples) | |
| Income cut-off, per fortnight | $2,627.80 | $4,016.80 |
| Assets test free area, homeowner | $333,000 | $499,000 |
| Assets test free area, non-homeowner | $600,000 | $766,000 |
| Assets taper rate | Pension reduces $3.00 per fortnight per $1,000 over the free area | |
| Asset cut-off, homeowner | $733,500 | $1,102,500 |
| Asset cut-off, non-homeowner | $1,000,500 | $1,369,500 |
| Work Bonus | First $300 per fortnight of work income exempt; unused credit banks up to $11,800; new claims start with a $4,000 balance | |
| Qualifying age | 67 | |
Maximum rates apply from 20 March 2026; free areas and cut-off points apply from 1 July 2026. Cut-offs are higher where Rent Assistance or the Work Bonus applies.
Deeming: the rates Centrelink assumes your money earns
Services Australia · Deeming, accessed 11 June 2026 · Australian Government Actuary, Deeming rate recommendation March 2026, released 20 February 2026 · Department of Social Services, indexation rates lists checked 11 Jun 2026
Deeming is the income test's shortcut: Centrelink assumes your financial assets earn these set rates, whatever they actually earn, and feeds that deemed income into the income test. Earn more than the deemed rate and the extra is yours, test-free; earn less and you are assessed on income you never received.
| Setting | Value | Effective |
|---|---|---|
| Lower deeming rate | 1.25% | 20 March 2026 |
| Upper deeming rate | 3.25% | 20 March 2026 |
| Threshold, single (lower rate on first) | $66,800 | 1 July 2026 (was $64,200) |
| Threshold, couple, at least one on a pension (combined) | $110,600 | 1 July 2026 (was $106,200) |
| Threshold, couple, neither on a pension (each) | $55,300 | 1 July 2026 (was $53,100) |
The phased reset, tracked
| Period | Lower rate | Upper rate |
|---|---|---|
| 1 May 2020 (frozen; freeze formally ended 30 June 2025) | 0.25% | 2.25% |
| From 20 September 2025 | 0.75% | 2.75% |
| From 20 March 2026 (current) | 1.25% | 3.25% |
| 20 September 2026 | Possible further step of up to 0.5 percentage points; Australian Government Actuary recommendation due about August 2026 | |
Government policy is a gradual reset in increments of up to 50 basis points, reviewed by the Australian Government Actuary before each 20 March and 20 September indexation day. Sale proceeds of a principal home earmarked for a new home are deemed at the lower rate only.
The super system scoreboard
APRA · Quarterly Superannuation Performance Statistics, March 2026, released 28 May 2026 · Quarterly Superannuation Industry publication, December 2025 · 2025 superannuation performance test results, released 29 August 2025 checked 11 Jun 2026
The size of the machine, straight from the prudential regulator's March 2026 quarterly. Total assets fell 1.0% over the quarter, which is exactly why every figure on this page carries a date.
| Measure | Figure | As at |
|---|---|---|
| Total superannuation assets | $4,437.9 billion ($4.44 trillion) | 31 March 2026 |
| APRA-regulated fund assets | $3,141.1 billion | 31 March 2026 |
| SMSF assets | $1,057.6 billion | 31 March 2026 |
| Total contributions, year to March 2026 | $226.1 billion | 31 March 2026 |
| Benefit payments, year to March 2026 | $143.5 billion | 31 March 2026 |
| Annual rate of return, APRA-regulated funds | 7.4% | Year to 31 March 2026 |
| Five-year annualised rate of return | 6.1% | 31 March 2026 |
| MySuper products | 51 products, $1,185 billion, 14.9 million accounts | 31 December 2025 |
2025 annual performance test · released 29 August 2025
| Test outcome | Result |
|---|---|
| Products assessed | 563 |
| MySuper products | All 52 passed; second consecutive year of zero MySuper failures |
| Platform trustee-directed products | 7 of 137 failed, down from 37 in 2024 |
| Members in failing products | About 8,500, down from about 1 million when the test began in 2021 |
Life insurance: the share of claims actually paid
APRA and ASIC · Life Insurance Claims and Disputes Statistics, 12 months to 31 December 2025, released 29 April 2026 (channel-level percentages via trade-press reporting of the publication) checked 11 Jun 2026
Group cover inside super pays out at the highest rates across the board; the gap opens up in TPD, where the policy definition does the deciding. These are claims admittance rates by sales channel for calendar 2025.
| Cover type | Individual advised | Individual non-advised | Group (inside super) |
|---|---|---|---|
| Death | 97% | 92% | 98% |
| TPD | 82% | 69% | 90% |
| Trauma | 88% | 84% | n/a |
| Income protection | 94% | 86% | 96% |
Death claims are finalised in about one month on average (93% within two months); TPD averages about 3.8 months, with 16% taking longer than six. One honesty note: the channel-level percentages above were reported from APRA's CY2025 publication via trade press; sight APRA's published data file before quoting them anywhere that matters.
Investment fees: what cheap looks like
Betashares · A200 fund page, accessed 11 June 2026 · Vanguard, VAS and VGS factsheets, 30 April 2026 · InvestSMART, IVV listing, accessed 11 June 2026 (secondary) · Productivity Commission, "Superannuation: Performing for all members?" speech, 6 June 2018 · Vanguard, 2025 Index Chart, published 15 August 2025 · Moneysmart (ASIC), Choosing a super fund, accessed 11 June 2026 checked 11 Jun 2026
Tracking the Australian sharemarket now costs as little as 0.04% a year, which makes anything north of 1% a question worth asking out loud. The Productivity Commission put a number on the difference, and it has six figures.
| ETF | ASX code | Management fee p.a. | Fee current at |
|---|---|---|---|
| Betashares Australia 200 | A200 | 0.04% | Fund page, 11 June 2026 |
| Vanguard Australian Shares Index | VAS | 0.07% | Factsheet, 30 April 2026 |
| iShares S&P 500 | IVV | 0.04% | Secondary source; confirm on blackrock.com before relying on it |
| Vanguard MSCI Index International Shares | VGS | 0.18% | Factsheet, 30 April 2026 |
What fees and returns do over decades
| Finding | Figure | Source |
|---|---|---|
| An extra 0.5% a year in super fees | About $100,000 less at retirement for a typical worker | Productivity Commission, 6 June 2018 |
| Moving from 2.5% to 1% fees at age 30 | $81,000 more at 65 ($336,000 vs $255,000, on $50,000 income) | Moneysmart case study |
| Australian shares, 30 years to 30 June 2025 | 9.3% a year before fees and tax; $10,000 became $143,786 | 2025 Vanguard Index Chart |
Dates worth knowing
The recurring rhythm of the Australian financial year · compiled from ATO, Department of Social Services and Study Assist pages, accessed 11 June 2026 checked 11 Jun 2026
The calendar does half the work in Australian personal finance. These are the dates the rules move, plus this year's one-offs.
| Date | What happens |
|---|---|
| 1 July | New financial year; indexed caps, free areas and deeming thresholds reset; Payday Super and Division 296 both started on 1 July 2026 |
| 20 March & 20 September | Age Pension rates indexed; deeming rates reviewed by the Australian Government Actuary ahead of each date |
| 1 June | HELP/HECS debts indexed at the lower of CPI and WPI (2.8% on 1 June 2026, the lowest since 2021) |
| 30 June | Deadline for contributions to count in the financial year (funds suggest mid-June); the next carry-forward expiry is the unused 2021-22 concessional cap, gone on 30 June 2027 |
| 31 October | Tax return deadline for self-lodgers |