The ATO has updated the Superannuation, Employee Termination Payment (ETP) thresholds and redundancy tax free amounts effective from 1st July 2025. The following threshold and amounts have been updated:
- Maximum Super contribution Base: $62,500 per quarter
- Super guarantee contribution rate: 12.00%
- Life and Death Benefit ETP Cap: $260,000
- Tax free part of genuine redundancy and early retirement scheme payments: $13,100 base limit and $6,552 for each complete year of service.
FBT rate remain unchanged and it is same of previous year. The benchmark interest rate for the fringe benefits tax (FBT) year ending 31 March 2026 is 8.62 per cent per annum.
The Position Statement has been revised to include more details about these legislative updates and the patch availability. We encourage our customers to review the position statement regularly to stay updated. The Position Statement can be found on My Oracle Support, Doc ID 2973834.1.