Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016 (81 of 2016)

Schedule 6   Unused concessional cap carry forward

Income Tax Assessment Act 1997

3   Section 291-1

After:

There is a cap on the amount of superannuation contributions that may receive concessional tax treatment for an individual in a financial year.

insert:

You can carry forward unused concessional contributions cap from the previous 5 financial years and use it to increase your cap in a later financial year (unless your total superannuation balance exceeds $500,000).