PDS updates
The information in our PDS can be subject to change
Here you can find important information about recent changes to our products that haven’t yet been reflected in our PDS documents.
You should consider these changes when reading our PDS.
We intend to update our PDS documents on 1 October 2026.
Updates to caps and thresholds
The following super caps and thresholds will change at 1 July 2026:
| Cap or threshold | Up to 30 June 2026 | From 1 July 2026 |
| Before-tax (concessional) cap | $30,000 | $32,500 |
| After-tax (non-concessional) cap | $120,000 | $130,000 |
| Bring forward rule for after-tax contributions | $360,000 over three years | $390,000 over three years |
| Co-contribution income thresholds | Lower limit: $47,488
Upper limit: $62,488 |
Lower limit: $49,293
Upper limit: $64,293 |
| Maximum contribution base for employer super guarantee contributions | $62,500 per quarter | $270,830 per year |
| Transfer balance cap | $2 million | $2.1 million |
| Capital gains tax (CGT) cap | $1,865,000 | $1,935,000 |
| Defined benefit income cap | $125,000 | $131,250 |
We're increasing our BPAY® limit from $120,000 to $130,000 on 1 July 2026 to align with the increase in the after-tax (non-concessional) cap.
Find out more about contribution limits.
® Registered to BPAY Pty Ltd ABN 69 079 137 518.
Payday Super changes
Payday Super came into effect on 1 July 2026. The main change is that employers must pay super each payday, instead of quarterly, but Payday Super also includes changes to:
- How the super guarantee (SG) is calculated
- when it must be received by
- reporting
- the SG charge
- data and payment processing.
The ATO Small Business Superannuation Clearing House is also closing.
Find out more about Payday Super.
Parental leave changes
Super applies to Government-funded parental leave from 1 July 2025.
The ATO will pay a lump sum amount into your super account after the end of the financial year in which you received the parental leave pay. The amount is based on the relevant SG rate plus an interest component.
Contributions tax will be applied to the contribution, and it will count towards the before-tax (concessional) contribution cap.
For more information, visit the ATO website.
Changes to tax on investment earnings in super
The Australian Government has introduced an additional tax on higher super balances, known as Division 296.
Before 1 July 2026, investment earnings in super and Transition to Retirement (TTR) Income accounts were taxed at up to 15%, while investment earnings in retirement phase accounts such as our Flexible and Managed Income accounts were generally tax-free.
From 1 July 2026, if your total super balance is more than the large super balance threshold ($3 million for 2026-27), an additional tax may apply to a proportion of your realised earnings above the threshold.
Importantly, the total super balance is the sum of all super funds you’re invested in (it’s not a separate amount for each account), and it includes super accounts in both accumulation and retirement phase.
The tax applies to realised earnings from 1 July 2026, with your balance as at 30 June 2027 used by the ATO to assess how much you’ll pay.
Additional tax rates
| Total super balance | Additional tax on proportionate realised earnings above the threshold |
| $3 million to $10 million | 15% |
| Over $10 million | 25% |
The thresholds shown above are for 2026–27. These will be indexed in line with the consumer price index (CPI).
If you’re above the thresholds at the end of the financial year, the ATO will calculate how much extra tax applies. You’ll then receive a notice from the ATO outlining your payment options.
Find out more about the tax changes on higher super balances.