Super contributions - too much super can mean extra tax

Non-concessional (after-tax) contributions

Non-concessional contributions may also be referred to as 'after-tax contributions'. Types of non-concessional (after-tax) contributions include:

non-concessional (after-tax) contributions that your employer makes on your behalf from your after-tax income
contributions your spouse (including a same-sex spouse) makes to your super fund, unless your spouse makes the contributions because they're your employer
personal contributions that are not claimed as an income tax deduction
contributions in excess of your concessional (before-tax) contributions cap
contributions in excess of your capital gains tax (CGT) cap amount
most transfers from foreign super funds, excluding amounts included in your fund's assessable income.

Your age affects the amount of the non-concessional (after-tax) contributions cap, how the cap applies and what options you may have - see Your age and super contributions caps.

Exclusions

Some personal contributions may be excluded from counting towards your non-concessional (after-tax) contributions cap for a financial year. Some of the exclusions include contributions:

made from personal injury payments
you have chosen to count towards your CGT cap amount that have not gone over your lifetime limit.

These types of non-concessional (after-tax) contributions will only be excluded if you meet all of the conditions. You must also specifically ask your fund to exclude them by providing your fund with a Capital gains tax cap election or Contributions for personal injury form before or when you make a contribution.

Sections within Introduction

Last Modified: Tuesday, 3 July 2012