Super contribution caps

Concessional (pre-tax) contributions

Can include:

  • Compulsory contributions paid by your employer - such as the super guarantee
  • Salary sacrifice contributions, administration fees and insurance premiums paid by your employer
  • Personal contributions for which you claim a tax deduction; and
  • Notional taxed contributions if you are a member of a defined benefit fund.

Please see the ATO website for the current contributions caps.

From 1 July 2018, if you have a total superannuation balance of less than $500,000 at the end of 30 June of the previous financial year, you may be entitled to contribute more than the general concessional contributions cap using the carried-forward amounts of your unused concessional contributions. The first year you will be entitled to carry forward any unused amounts in the 2019-20 financial year.

If you exceed the contribution limits you may have to pay a penalty tax on these amounts. Check out the ATO website for more information on what happens if you go over your concessional contributions cap and how any tax can be paid.

Non-concessional (after-tax) contributions

Can include:

  • Personal contributions that your employer makes from your after-tax income
  • Contributions your spouse makes to your super fund
  • Personal contributions not claimed as an income tax deduction
  • Contributions in excess of your concessional contributions cap.

Non-concessional contributions are capped to four times concessional contributions (see the ATO website for current rates).

What if you exceed the cap?

If you exceed the contribution limits you may have to pay a penalty tax on these amounts. Check out the ATO website for more information on what happens if you go over your concessional contributions cap and how any tax can be paid.

If you are less than 65 years of age, you can ‘bring forward' another two years worth of non-concessional contributions, allowing you to contribute up to two years' worth of contributions without a penalty. The cap amount that applies is three times the non-concessional contributions cap for the financial year in which you make the contribution. From 1 July 2017 the bring-forward amount and period is dependent on your total superannuation balance on the day before the financial year contributions that trigger the bring forward.

For help or more information, call our Member Services team on 1300 300 820. You can also email us.

 

Contributing to your super
Contribution Type Description Under 18 Under 65 Over 65 but Under 70 Over 70 but Under 75 75 and Over
Mandated employer contributions SG and contributions made under an award or industrial agreement Yes Yes Yes Yes Yes
Voluntary employer contributions All other employer contributions other than mandated employer contributions including salary sacrifice and employer ETPs Yes Yes Subject to work test requirements* Subject to work test requirements* No
Member personal contributions Personal contributions made on an after tax basis Yes Yes Subject to work test requirements* Subject to work test requirements* No
Spouse contributions Contributions made to a spouse's account and received from a spouse under contribution splitting rules N/A Yes Subject to work test requirements* No No
Government co-contributions Government payment which is applied to eligible personal contributions Yes Yes Yes No No

 

*Generally, a contribution can only be accepted after age 64 if you were gainfully employed at least 40 hours in a period of not more than 30 consecutive days during the financial year in which the contribution is made. This is known as the work test.

From 1 July 2019, members aged between age 65 – 74 with a total superannuation balance of less than $300,000 will be exempt from the work test for a 12 month period. These members are able to make voluntary contributions for up to 12 months from the end of the financial year in which they last met the work test. The exemption is only available for one 12 month period in an individual’s lifetime.

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