Allowing catch-up concessional superannuation contributions

On 15 September 2016, the Government announced that this measure will now commence from 1 July 2018.

In the 2016-17 Budget it was announced that from 1 July 2017 individuals with superannuation balances of $500,000 or less will be allowed to access their unused concessional cap space to make additional concessional (before-tax) contributions.

Individuals will be able to access their unused concessional contributions cap space on a rolling basis for a period of 5 years. Amounts carried forward that have not been used after 5 years will expire. Only unused amounts accrued from 1 July 2017 can be carried forward.

Legislation and supporting material

  • Legislation is currently being developed for this measure.

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    Last modified: 15 Sep 2016QC 48862