SuperGuide

Simple superannuation and retirement planning information

Contributions caps

You can make two types of superannuation contributions to your super fund. You, or your employer, can make concessional (before-tax) contributions to your super fund. You, or your spouse, or the federal government, can make non-concessional (after-tax) contributions to your super fund.

For each type of super contribution there is an annual limit on how much of that type of super contribution can be contributed to your super account/s. If you exceed a certain amount of contributions each year however, any contributions above that cap must be withdrawn from the super account, or penalty tax must be paid.

You have two caps – a concessional contributions cap ($25,000 for the 2017/2018 year, and for the 2018/2019 year), and a non-concessional contributions cap ($100,000 for the 2017/2018 year, or for the 2018/2019 year).

For more information about the annual contributions caps, including how the caps are applied see the following SuperGuide links:

Set out below are all SuperGuide articles referring to Contributions caps.

Capital gains: Reducing income tax via super contributions

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Q: I have a self-managed super fund (SMSF), and I also have two investment properties in my personal name. When I sell the properties, I will be required to pay capital gains tax. Can this capital gains tax be offset by a contribution to the SMSF which would be tax-deductible? Would there be a 15% contributions tax? I ... Read more

Non-cash contributions, CGT and contributions caps

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Q: My husband and I, both near 60, plan to spend around $700,000 of our cash to buy shares soon. We don’t have a trust structure or company (both PAYG) and wondered how/if we could buy them in the name of our self-managed super fund? How do we get the cash from our names to the super fund? I’ve read about in-specie ... Read more

Double contributions tax for more high-income earners

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Note: Since 1 July 2017, anyone earning an ‘income for surcharge purposes’ of more than $250,000 pays an extra 15% tax (total of 30%) on concessional (before-tax) super contributions. Before July 2017 (and since July 2012), the ‘threshold income for surcharge purposes’ was $300,000, and anyone earning an ‘income for ... Read more

Latest superannuation rules: 2018/2019 guide

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Substantial changes to the superannuation rules took effect from 1 July 2017, and further super changes took effect from 1 July 2018. Have you investigated how the super changes will affect your superannuation and retirement plans for the 2018/2019 year, and for future financial years? At the same time, many of ... Read more

Bring-forward rule: A definitive super guide

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Note: The information in this article relates to the 2018/2019 financial year and the 2017/2018 financial year (and also refers to the rules applicable for the 2016/2017 financial year). For the 2018/2019 year, the annual non-concessional contributions cap remains at $100,000, and in turn, the bring-forward cap ... Read more