Today we released the updated Retirement Income Simulator for the 2024-25 financial year. There were no changes to the underlying calculations, just parameter updates as follows:
- Stage 3 income tax cuts
- Co-contribution eligibility income threshold to $45,400
- SG minimum rate to 11.5% of salary
- SG maximum contributions base to $260,280
- Age pension means test and deeming thresholds
- Underlying indexed values of contribution caps and transfer balance cap
In addition, disclosure relating to these parameters was updated.