General Transfer Balance Cap to Increase

29 Jan 2025

Written by

David Busoli, Principal

The latest CPI figures have been confirmed and will result in an increase to the general transfer balance cap from $1.9m to $2m from 1 July 2025. Contribution cap increases are measured against AWOTE so will not change though the application of the NCC 3 year bring forward rule will be against a higher transfer balance cap as per the table below.

To 30 June 2025

TSB @ 30 June 2024Max NCC
Less than $1.66m$360,000
$1.66m to under $1.78m$240,000
$1.78m to under $1.9m$120,000
$1.9m and over$0

From 1 July 2025

TSB @ 30 June 2025Max NCC
Less than $1.76m$360,000
$1.76m to under $1.88m$240,000
$1.88m to under $2m$120,000
$2m and over$0

 

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