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  • 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

    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 five 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.
    Last modified: 13 Jan 2023QC 18123