Workers will be able to pump more low-tax money into superannuation after strong wages growth triggered the first increase in contribution limits in three years.
Concessional (pre-tax) and non-concessional (post-tax) contribution caps will be lifted by $2500 and $10,000 a year respectively from July 1, it was confirmed on Thursday.
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Joanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023. Connect with Joanna on Twitter. Email Joanna at jmather@afr.com
