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Contributions caps and taxation of contributions

Concessional contributions cap

Section: 5.1

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