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Contributions caps

Last updated 15 October 2023

Caps apply to contributions made to your super in a financial year. If you contribute more than these caps, you may have to pay extra tax.

Concessional contributions cap

Concessional contributions include:

  • employer contributions (including contributions made under a salary sacrifice arrangement)
  • personal contributions claimed as a tax deduction.

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

Table 1.1: Concessional contributions caps

Income year

Date

Your age at this date

Your concessional contribution cap

2023–24

N/A

All ages

$27,500

2022–23

N/A

All ages

$27,500

2021–22

N/A

All ages

$27,500

2020–21

N/A

All ages

$25,000

2019–20

N/A

All ages

$25,000

2018–19

N/A

All ages

$25,000

2017–18

N/A

All ages

$25,000

2016–17

30 June 2016

<49

$30,000

2016–17

30 June 2016

49+

$35,000

2015–16

30 June 2015

<49

$30,000

2015–16

30 June 2015

49+

$35,000

2014–15

30 June 2014

<49

$30,000

2014–15

30 June 2014

49+

$35,000

2013–14

30 June 2013

<59

$25,000

2013–14

30 June 2013

59+

$35,000

Excess concessional contributions are the amount of concessional contributions you make over your cap in a financial year. From 2013–14 onwards the excess contributions are included as taxable income and taxed at the marginal tax rate. Also, you are liable for an excess concessional contributions charge. Individuals who make contributions from 1 July 2021 that exceed their cap, will no longer be liable to pay the excess concessional contributions charge.

Table 1.2: Concessional contributions caps

Income year

Date

Your age at this date

Your concessional contribution cap

2012–13

N/A

All ages

$25,000

2011–12

30 June 2012

<50

$25,000

2011–12

30 June 2012

+50

$50,000

2010–11

30 June 2011

<50

$25,000

2010–11

30 June 2011

+50

$50,000

2009–10

30 June 2010

<50

$25,000

2009–10

30 June 2010

+50

$50,000

2008–09

30 June 2009

<50

$50,000

2008–09

30 June 2009

+50

$100,000

2007–08

30 June 2008

<50

$50,000

2007–08

30 June 2008

+50

$100,000

For 2012–13 and earlier years, excess concessional contributions were taxed at 46.5% (15% levied in the super fund, with an additional 31.5% payable).

Unused concessional cap carry forward

From 1 July 2018 if you have a total superannuation balance of less than $500,000 on 30 June of the previous financial year, you may be entitled to contribute more than the general concessional contributions cap and make additional concessional contributions for any unused amounts.

The first year you will be entitled to carry forward unused amounts is the 2019–20 financial year. Unused amounts are available for a maximum of 5 years, after which they will expire.

Table 2: Unused concessional cap carry forward

Description

2017–18

2018–19

2019–20

2020–21

2021–22

General contributions cap

$25,000

$25,000

$25,000

$25,000

$27,500

Total unused available cap accrued

Not applicable

$0

$22,000

$44,000

$69,000

Maximum cap available

$25,000

$25,000

$47,000

$25,000

$96,500

Superannuation balance 30 June prior year

Not applicable

$480,000

$490,000

$505,000

$490,000

Concessional contributions

nil

$3,000

$3,000

nil

nil

Unused concessional cap amount accrued in the relevant financial year

$0

$22,000

$22,000

$25,000

$27,500

General concessional contributions cap

From 1 July 2021 the general concessional contributions cap is $27,500 as a result of indexation in line with average weekly ordinary time earnings (AWOTE).

From 1 July 2017 to 30 June 2021 the general concessional contributions cap is $25,000. From the 2017–18 financial year, the general concessional contributions cap is not calculated based on age.

Higher concessional contributions cap for the 2013–14 and later financial years

The concessional contributions cap was temporarily increased to $35,000:

  • for the 2013–14 financial year if you were 59 years or over on 30 June 2013
  • from the 2014–15 to the 2016–17 financial year if you were 49 years or over on the last day of the previous financial year.

Higher concessional contributions cap for the 2012–13 year

For the 2012–13 financial year, the higher concessional contributions cap was equal to the general concessional contributions cap of $25,000.

Higher concessional contributions cap for the 2011–12 and earlier financial years

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

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

Excess concessional contribution charge

The excess concessional contributions (ECC) charge is applied to the additional income tax liability that comes from including excess concessional contributions in your income tax return as taxable income.

The intent of the ECC charge is to acknowledge that the tax is collected later than normal income tax.

The charge is:

  • payable for the year you make excess concessional contributions
  • applies from the 2013–14 income year until the 2020–21 income year.

Individuals who make contributions on or after 1 July 2021 that exceed their cap, will no longer be liable to pay the ECC charge.

The ECC charge period was previously calculated from the start of the income year in which the excess concessional contributions were made and ends the day before the tax is due to be paid under your first income tax assessment for that year.

The formula for calculating the ECC charge used a base interest rate for the day plus an uplift factor of 3%. The base interest rate is the monthly average yield of 90-day Bank Accepted Bills published by the Reserve Bank of Australia.

This compounding interest formula was applied against the base amount (the additional income tax liability) for each day of the ECC charge period.

The ECC charge rates prior to 1 July 2021 were updated quarterly and are listed in the table below.

Table 3: Excess concessional contribution charge rates

Quarter

Annual rate

Daily rate

October – December 2023

7.15%

0.019589041095890%

July – September 2023

6.90%

0.018904109589041%

April – June 2023

6.46%

0.017698630136986%

January – March 2023

6.06%

0.016602739726027%

October – December 2022

5.31%

0.014547945205480%

July – September 2022

4.00%

0.010958904109589%

April – June 2022

3.07%

0.008410958904110%

January – March 2022

3.04%

0.008328767123288%

October – December 2021

3.01%

0.008246575342466%

July – September 2021

3.04%

0.008328767123288%

April – June 2021

3.01%

0.008246575342466%

January – March 2021

3.02%

0.008273972602739%

October – December 2020

3.10%

0.008469945355191%

July – September 2020

3.10%

0.008469945355191%

April – June 2020

3.89%

0.010628415300546%

January – March 2020

3.91%

0.010683060109290%

October – December 2019

3.98%

0.010904109589041%

July – September 2019

4.54%

0.012438356164384%

April – June 2019

4.96%

0.013589041095890%

January – March 2019

4.94%

0.013534246575342%

October – December 2018

4.96%

0.013589041095890%

July – September 2018

4.96%

0.013589041095890%

April – June 2018

4.77%

0.013068493150685%

January – March 2018

4.72%

0.012931506849315%

October – December 2017

4.70%

0.012876712328767%

July – September 2017

4.73%

0.012958904109589%

April – June 2017

4.78%

0.013095890410959%

January – March 2017

4.76%

0.013041095890411%

October – December 2016

4.76%

0.013005464480874%

July – September 2016

5.01%

0.013688524590164%

April – June 2016

5.28%

0.014426229508197%

January – March 2016

5.22%

0.014262295081967%

October – December 2015

5.14%

0.014082191780822%

July – September 2015

5.15%

0.014109589041096%

April – June 2015

5.36%

0.014684931506849%

January – March 2015

5.75%

0.015753424657534%

October – December 2014

5.63%

0.015424657534247%

July – September 2014

5.69%

0.015589041095890%

April – June 2014

5.63%

0.015424657534247%

January – March 2014

5.59%

0.015315068493151%

October – December 2013

5.60%

0.015342465753425%

July – September 2013

5.82%

0.015945205479452%

For more information, see Super contributions – too much can mean extra tax.

Non-concessional contributions cap

Non-concessional contributions include personal contributions for which you do not claim an income tax deduction.

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

Table 4: Non-concessional contributions cap

Income year

Amount of cap

2023–24

$110,000 see Note 1

2022–23

$110,000 see Note 1

2021–22

$110,000 see Note 1

2020–21

$100,000 see Note 1

2019–20

$100,000 see Note 1

2018–19

$100,000 see Note 1

2017–18

$100,000 see Note 1

2016–17

$180,000

2015–16

$180,000

2014–15

$180,000

2013–14

$150,000

2012–13

$150,000

2011–12

$150,000

2010–11

$150,000

2009–10

$150,000

2008–09

$150,000

2007–08

$150,000

Note 1: The non-concessional cap for an income year is a multiple of the concessional contributions cap.

From 1 July 2017, your non-concessional cap is nil for a financial year if, at the end of the previous financial year, you have a total superannuation balance greater than or equal to the general transfer balance cap. In this case, if you make non-concessional contributions in that year, they will be excess non-concessional contributions.

Note: The total superannuation balance cap is $1.6 million between 1 July 2017 and 30 June 2021 and has increased to $1.7 million from 1 July 2021.

From the 2020–21 financial year if you are under 67 years old (for prior years the age restriction was 65), you may be able to make non-concessional contributions of up to 3 times the annual non-concessional contributions cap in a single year. If eligible, when you make contributions greater than the annual cap, you automatically gain access to future year caps. This is known as the ‘bring-forward’ option.

From 1 July 2017 your total superannuation balance at the end of the previous financial year will determine:

  • the non-concessional contributions cap you can bring-forward and
  • whether you have a 2-year or 3-year bring-forward period.

If you enter a bring-forward arrangement in either the 2012–13 or 2013–14 financial year you will have a $450,000 cap over 3 years; however in the 2014–15 financial year, your bring-forward cap is $540,000.

From 1 July 2017 the bring-forward amount and period depends on your total superannuation balance on the day before the financial year contributions that trigger the bring forward.

Transitional period transitional arrangements apply if you triggered a bring forward in either the 2015–16 or 2016–17 financial years. If you have triggered a bring forward before 1 July 2017 and you have not fully utilised your bring-forward cap before 1 July 2017, your cap was reassessed on 1 July 2017 to reflect your new annual cap.

During the transitional periods, contributions made prior to 1 July 2017 will affect your total non-concessional contributions capacity over the following 2 years.

Associated earnings rate (for excess non-concessional contributions)

Individuals have the option of electing to release non-concessional superannuation contributions made from 1 July 2013 which are in excess of the non-concessional contributions cap for 2013–14 and future income years.

An associated earnings amount is calculated to approximate the amount earned while excess non-concessional contributions were held in the superannuation fund. This is included in the individual’s assessable income.

Table 5: Associated earnings rates

Income year

Annual rate

Associated earnings rate / daily rate

2022–23

9.46%

0.02591781%

2021–22

7.04%

0.01928767%

2020–21

7.06%

0.01934247%

2019–20

8.08%

0.02207650%

2018–19

8.96%

0.02454795%

2017–18

8.73%

0.02391780%

2016–17

8.83%

0.02419178%

2015–16

9.20%

0.02513661%

2014–15

9.61%

0.02632876%

2013–14

9.66%

0.02646575%

Transitional arrangement for the non-concessional contributions cap between 10 May 2006 and 30 June 2007

Between 10 May 2006 and 30 June 2007, you could contribute up to $1 million of non-concessional contributions to your super fund. This limit was referred to as the transitional non-concessional contributions cap. If you had more than one fund, all non-concessional contributions made to all your funds were added together and counted towards the cap.

However, the following contributions were excluded from the $1 million transitional non-concessional contributions cap:

  • contributions arising from personal injury payments
  • up to $1 million of contributions derived from the disposal of certain small business assets – these contributions were subject to the capital gains tax (CGT) cap.

CGT cap amount

Under the CGT cap, you can during your lifetime, exclude non-concessional super contributions from your non-concessional contributions cap up to the CGT cap amount. The CGT cap applies to all excluded CGT contributions, whether they were made between 10 May 2006 and 30 June 2007 or after 30 June 2007.

Table 6: CGT cap amount

Income year

Amount of cap

2023–24

$1,705,000

2022–23

$1,650,000

2021–22

$1,615,000

2020–21

$1,565,000

2019–20

$1,515,000

2018–19

$1,480,000

2017–18

$1,445,000

2016–17

$1,415,000

2015–16

$1,395,000

2014–15

$1,355,000

2013–14

$1,315,000

2012–13

$1,255,000

2011–12

$1,205,000

2010–11

$1,155,000

2009–10

$1,100,000

2008–09

$1,045,000

2007–08

$1,000,000

The CGT cap amount 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.

For more information about the contribution caps, see Super contributions – too much can mean extra tax.

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