Contribution Caps
Concessional contributions include employer contributions, salary sacrifice contributions and personal contributions claimed as a tax deduction by a self-employed person. A two year 'bring forward' option is available on non-concessional contributions for persons under age 65. Care is needed with when the bring forward is triggered.
Post 1 July 2017, taxpayers with over the standard cap in super will not be able to make non-concessional contributions.
From July 2022 the work test will not be required to make non-concessional super contributions for ages up to 74.
The downsizer contributions age reduced from 65 to 60 from 1 July 2022.
| Year of Income |
Concessional
Contribution Cap |
Non-Concessional
Contribution Cap |
Lifetime Cap
CGT Excluded |
| 2023-24 | $27,500 | $110,000 | $1.650m |
| 2022-23 | $27,500 | $110,000 | $1.650m |
| 2021-22 | $27,500 | $110,000 | $1.615m |
| 2020-21 | $25,000 | $100,000 | $1.565m |
| 2019-20 | $25,000 | $100,000 | $1.515m |
| 2018-19 | $25,000 | $100,000 | $1.480m |
| 2017-18 | $25,000 | $100,000 | $1.445m |
| 2016-17 | $30,000 | $180,000 | $1.415m |
| 2015-16 | $30,000 | $180,000 | $1.395m |
| 2014-15 |
$30,000 |
$180,000 |
$1.355m |
| 2013-14 |
$25,000 |
$150,000 |
$1.315m |
| 2012-13 |
$25,000 |
$150,000 |
$1.255m |
| 2011-12 |
$25,000 |
$150,000 |
$1.205m |
| 2010-11 |
$25,000 |
$150,000 |
$1.155m |
| 2009-10 |
$25,000 |
$150,000 |
$1.100m |
| 2008-09 |
$50,000 |
$150,000 |
$1.045m |
| 2007-08 |
$50,000 |
$150,000 |
$1.000m |
Indexation is in line with AWOTE in $5,000 (rounded down) steps. The indexation base is Dec 2008 for the
Concessional Contribution Cap and Dec 2006 for the Lifetime Cap. The Non
Concessional Cap is 6 times the Concessional. From the 2018-19 year,
unused concessional contribution limit can be carried forward for a maximum of 5 years, provided the total superannuation balance is under $500,000 on 30 June of the previous financial year.
The higher concessional contribution caps for older contributors before 01/07/2017 are:
| Year of Income |
Available to: |
Concessional
Contribution Cap |
| 2016-17 | Age 49 or over on 30/6/2016 | $35,000 |
| 2015-16 | Age 49 or over on 30/6/2015 | $35,000 |
| 2014-15 | Age 49 or over on 30/6/2014 | $35,000 |
| 2013-14 | Age 59 or over on 30/6/2013 | $35,000 |
| 2012-13 | Age 50 or over on 30/6/2012 | $25,000 |
| 2009-12 | Age 50 or over | $50,000 |
| 2007-09 | Age 50 or over | $100,000 |
There is no longer any special higher contribution cap for older people.
Excess concessional contributions from 2013-14 onwards are included in taxable income,
taxed at the marginal tax rate plus an excess concessional contribution charge. From 1 July 2013
excess non-concessional contributions can be released with associated earnings amount included
in assessable income.