• Carry-forward concessional contributions of unused caps over five years

    From 1 July 2018, individuals will be able to make 'carry-forward' concessional super contributions if they have a total superannuation balance of less than $500,000. They will be able to access their unused concessional contributions cap space on a rolling basis for five years. Amounts carried forward that have not been used after five years will expire.

    The first year in which you can access unused concessional contributions is the 2019–20 financial year.

    The intent of this change is to improve the flexibility of the super system.

    Summary impacts for APRA-regulated funds

    • There will be additional reporting requirements.
    • You will likely receive more queries about contributions and account balances.
    Last modified: 20 Feb 2017QC 51315