Understanding contribution caps
You annual super contribution limit is your ‘super cap’. How much you can put into your super fund (or your partner’s super fund) depends on your age and whether your contribution is tax deductible. If you put too much money into your super fund, penalties can apply.
See Also
ATO CommunityWhat happens to your super when you move overseas?Moving overseas - ASFA Super GuruHow much Super can I withdraw at 60? - Superannuation Advice AustraliaGet the right advice on super and getting the view you want
Concessional contributions (tax deductible)
Concession cap: $25,000 per member perfinancial year (up to age 74)
- Concessional contributions include salary sacrifice and super guarantee contributions (the super your employer contributes for you)
- Over 67: you must meet a work test to be eligible to contribute to super
- 75 and over: generally can’t make concessional super contributions (some exceptions)
Non-concessional contributions (undeducted contributions)
Non-concessional cap: $100,000 under age 74, and up to $300,000 bring forward for under 67s
- Over 67: you must meet a work test to be eligible to contribute to super
- Under 74: can contribute up to $100,000 per financial year.
- Under 67: can use the ‘bring forward’ rule to contribute up to $300,000 in one year with no contributions for the next 2 years
- 75 and over: generally can’t make non-concessional super contributions
*subject to eligibility to make non-concessional contributions if your total superannuation balance exceeds $1.4 million.
Find out how to maximise contributions without getting a tax penalty
