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  • Contributions caps

    Concessional contributions cap

    Concessional contributions include:

    • employer contributions (including contributions made under a salary sacrifice arrangement)
    • personal contributions claimed as a tax deduction by a self-employed person.

    If you have more than one fund, all concessional contributions made to all your funds are added together and counted towards the cap.

    Table 1: Concessional contributions general cap

    Income year

    Amount of general cap

    2015-16

    $30,000

    2014–15

    $30,000

    2013–14

    $25,000

    2012–13

    $25,000

    2011–12

    $25,000

    2010–11

    $25,000

    2009–10

    $25,000

    2008–09

    $50,000

    2007–08

    $50,000

    In accordance with section 960-285 of the Income Tax Assessment Act 1997 (ITAA 1997), the concessional contributions cap is indexed in line with average weekly ordinary time earnings (AWOTE), in increments of $5,000 (rounded down). The new indexed amount is generally available each February.

    Attention

    Indexation of the general concessional contributions cap was paused at $25,000 up to and including the 2013–14 year. Normal indexation resumed for the 2014–15 year.

    End of attention

    People aged 59 years or over on 30 June 2013, and 49 years or over on 30 June 2014

    The concessional contributions cap will be temporarily increased to $35,000 for the:

    • 2013–14 financial year if you are aged 59 years or over on 30 June 2013
    • 2014–15 financial year or a later financial year if you are aged 49 years or over on the last day of the previous financial year.

    The temporary higher cap is not indexed and will cease when the general concessional contributions cap is indexed to $35,000.

    Table 2: Concessional contributions cap for those aged 59 years or over on 30 June 2013, and those aged 49 years or over on 30 June 2014 and 30 June 2015

    Income year

    Cap for those aged 59 years or over on 30 June 2013

    Cap for those aged 49 years or over on 30 June 2014

    Cap for those aged 49 years or over on 30 June 2015

    2015-16

    $35,000

    $35,000

    $35,000

    2014–15

    $35,000

    $35,000

    $30,000

    2013–14

    $35,000

    $25,000

    $25,000

    Concessional contributions cap for people aged 50 years or over up to 30 June 2012

    From 1 July 2012, all individuals had a general concessional contributions cap of $25,000.

    An increased concessional contributions cap applied until 30 June 2012 for people who were aged 50 years or over:

    • If you were aged 50 years or over, your annual cap for the 2007–08 and 2008–09 financial years was $100,000.
    • If you were aged 50 years or over, your annual cap for the 2009–10, 2010–11 and 2011–12 financial years was $50,000.

    If you had more than one fund, all concessional contributions made to all your funds were added together and counted towards the cap. This cap was not indexed.

    Last modified: 24 Jun 2015QC 18123