Contributions caps and taxation of contributions
Concessional contributions cap
|The concessional contributions cap for 2019-20 is $25,000 per individual per financial year.|
From 1 July 2017 there is only one cap that applies to individuals of any age. The concessional contributions cap is indexed to average weekly ordinary time earnings (AWOTE) in increments of $2,500.
Members with total superannuation balance below $500,000 can carry forward any unused concessional contributions cap amounts that accrue from 1 July 2018 onwards, for up to five financial years.
The concessional contributions cap applies to the individual. For example, if a member has multiple employers or multiple superannuation funds, contributions from all employers and funds will be totalled to count against the member's concessional cap.
Last modified: Tuesday, July 23, 2019