Contributions caps

Every year, you are entitled to make super contributions. If you exceed a certain amount of contributions each year however, known as the contributions cap, any contributions above that cap will be hit with penalty tax.

You have two caps – a concessional contributions cap, and a non-concessional contributions cap.


Set out below are all SuperGuide articles explaining Contributions caps.

Super contributions: $1 million opportunity

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Q: I am aged 54. How much can I make in super contributions without attracting penalty tax? Is it $210,000 or $215,000 or some other figure?A: Before I answer your question in detail, for the benefit of other readers I will first explain the figures you quote in your question.The general … [Read more...]

Super health check for beginners: 10 tips for your 2014/2015 retirement planning

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Note: This article is current for the 2014/2015 financial year.Near the start of each financial year, SuperGuide publishes an updated super checklist for beginner readers. More advanced checklists will follow in coming months. Use this list as a kick-start for your 2014/2015 super resolutions. … [Read more...]

Super for beginners: Top 10 must-know facts

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Nearly six years ago, in January 2009, we launched the SuperGuide website, and in March 2009 we published the first monthly SuperGuide newsletter. Since that time we have received thousands of questions, from our millions of visitors, on different aspects of superannuation. We try to represent as … [Read more...]

Super concessional contributions: 2014/2015 survival guide

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Superannuation contributions can be divided into two types — concessional (before-tax) and non-concessional (after-tax). Each type of super contribution is subject to a contributions cap. A contributions cap sets a limit on the amount of contributions you can make in any one year.If you exceed … [Read more...]

Your 2014/2015 guide to non-concessional (after-tax) contributions

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Non-concessional superannuation contributions are more popularly known as after-tax contributions. You may even hear them called ‘undeducted’ contributions. Such super contributions are subject to a contributions cap, which sets a limit on the amount of non-concessional (after-tax) contributions … [Read more...]

Double contributions tax for high-income earners

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Anyone earning more than $300,000 (including rental property losses and other items) now pays 30% tax on concessional contributions paid into a super fund, doubling the super tax bill for high-income earners. The regular contributions tax is a flat rate of 15%.Concessional contributions include … [Read more...]

Concessional contributions caps: 10 facts you should know

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We receive many questions about the concessional contributions caps. Throughout 2014, SuperGuide, as always, will regularly update readers on any proposed changes to the contributions caps (and other super changes), and the implications of such changes on super strategies.The list of 10 Q&As … [Read more...]

Non-concessional contributions: Tread carefully when aged 63 or 64 or 65 (3 Q & As)

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Q: I am 64 and want to take advantage of the bring-forward rules when making non-concessional contributions. I turn 65 sometime during the 2014/2015 financial year. There is a possibility that I will be able to dispose of a property during the financial years 2014/2015 or 2015/2016. My three related … [Read more...]

Super contributions: Beef up using a bring forward

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Q: Under the 2-year bring-forward of non-concessional contributions, if a person makes an after-tax contribution of $150,001 when age 64 during the 2013/2014 year, can he continue to contribute the balance of the $450,000 anytime during the next 2 years without having to satisfying the work … [Read more...]

Salary sacrificing and super: 10 facts you should know

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Salary sacrificing, by making before-tax superannuation contributions, is a popular strategy for employees on middle-to-high incomes. The deal is that you increase your superannuation balance (and pay 15% contributions tax) while reducing the amount of income tax payable (up to 46.5%) on your salary … [Read more...]