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Contributions caps and taxation of contributions

Historical treatment of excess concessional contributions

Section: 5.11

Excess concessional contributions made between 1 July 2007 and 30 June 2013

Excess concessional contributions made between 1 July 2007 and 30 June 2013 were taxed at 31.5% to the individual member (in addition to the 15% tax paid by the super fund).

Excess concessional contributions made during this time also counted toward the non-concessional cap. If the excess concessional contribution also exceeded the non-concessional cap, it was taxed again at 46.5%. Such a contribution was therefore taxed at 93% in total (15% + 31.5% + 46.5%).

Excess concessional contributions made between 1 July 2011 and 30 June 2013

Where a member had eligible excess contributions of $10,000 or less for the 2011-12 or 2012-13 financial year and it was the first time the member had exceeded their concessional contributions cap (excluding financial years before 2011-12), they received an offer from the ATO to refund their excess contributions. Where a member took up this offer:

  • the excess contributions were assessable income of the member for the financial year (with a 15% tax offset to allow for tax already paid by the member's super fund), and
  • 85% of the excess concessional contributions were generally refunded from super and provided to the member as a tax credit.

Where a member elected not to take up the offer, excess concessional contributions tax of 31.5% applied to the excess amount. The excess concessional contributions amount also counted towards the member's non-concessional contributions cap for the financial year in which the contribution was made.

Last modified: Tuesday, July 23, 2019