Excess contributions tax and how funds report your contributions

Transfers from reserves

Transfers from reserves are not contributions. However, if your fund allocates an amount from its reserves which meets certain conditions, it must be reported by your super fund and will count towards a contributions cap.

Transfers from reserves can be assessable or non-assessable.

Assessable transfers from reserves

Assessable transfers from reserves count towards your concessional contributions cap.

The assessable amount is the amount that is taken to be a concessional contribution because your fund allocated the amount to your account from a reserve and it meets the specified conditions. In some circumstances, the amount reported may be greater than the amount actually allocated to you, to take into account the contributions tax your fund would normally have had to pay.

For more information about assessable allocations from reserves, refer to regulation 292-25.01 of the Income Tax Assessment Regulations 1997.

Non-assessable transfers from reserves

Non-assessable transfers from reserves count towards your non-concessional contributions cap.

The non-assessable amount is the amount that is taken to be a non-concessional contribution because your fund allocated an amount to your account from a reserve which was not included as assessable income of the fund.

For more information about the amount, refer to regulation 292-90.01 of the Income Tax Assessment Regulations 1997.

Sections within More information on how contributions count towards your caps

• Employer contributions
• Personal contributions
• Personal superannuation deductions
• Super capital gains tax cap election amounts
• Personal injury election amounts
• Spouse and child contributions
• Other family and friend contributions
• Taxable component of directed termination payments
• Foreign fund transfer amounts
• Transfers from reserves
• Contributions made to a previously non-complying fund
• Any other contributions
• Total contributions