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Contribution Caps  

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
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
2016-17Age 49 or over on 30/6/2016$35,000
2015-16Age 49 or over on 30/6/2015$35,000
2014-15Age 49 or over on 30/6/2014$35,000
2013-14Age 59 or over on 30/6/2013$35,000
2012-13Age 50 or over on 30/6/2012$25,000
2009-12Age 50 or over$50,000
2007-09Age 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.

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