A number of changes to commence from 1 July 2026 are set to be good news for your super balance. So how do these changes affect you? We outline the changes below and how you will benefit.
Increase to super guarantee contributions
Super guarantee is the minimum percentage of your earnings that your employer is required to pay to your super fund.
From 1 July 2026, the minimum super guarantee rate will remain at 12%.
Contribution caps
The concessional contribution cap limits the amount you can contribute to your super fund each financial year.
Concessional contributions include all employer contributions (super guarantee and salary sacrifice arrangements) and voluntary personal contributions that you claim as a tax deduction in your personal income tax return.
Non-concessional contributions are generally voluntary contributions where no tax deduction is claimed.
From 1 July 2026, the concessional contribution cap will increase to $32,500 per financial year. The non-concessional cap will also increase to $130,000 per financial year.
The increase in the contribution caps will allow you and/or your employer to deposit additional contributions into your super fund to boost your retirement savings.