The annual non-concessional contributions cap is $100,000 for the 2018/2019 year, and $100,000 for the 2017/2018 year. Likewise, the maximum bring-forward cap is $300,000 for the 2018/2019 year, and for the 2017/2018 year. Continue reading this article to find out more about the non-concessional contributions rules. ... Read more
Super contributions caps for the 2018/2019 year (and 2017/2018 year)
The superannuation contributions caps for concessional (before tax) and non-concessional (after tax) contributions for the 2018/2019 year, are the same as those that apply for the 2017/2018 year. (Note that the higher contributions caps applicable for the 2016/2017 year, are also set out later in the ... Read more
Understanding the transitional bring-forward rule (for 2018/2019 and 2017/2018 years)
Q1: What cap applies for the 2017/2018 year, if I triggered the bring-forward rules during the 2016/2017 or 2015/2016 years? Q2: What cap applies for the 2018/2019 year, if I triggered the bring-forward rules during the 2016/2017 year? Transitional arrangements apply for Australians who are in the middle of a ... Read more
Non-concessional contributions: Tread carefully when aged 63 or 64 or 65 (3 Q & As)
Note: For the 2018/2019 year, and for the 2017/2018 year, the non-concessional cap is $100,000 and the 3-year bring-forward cap is $300,000. For the 2016/2017 year, the non-concessional (after-tax) cap was $180,000, and the 3-year bring-forward cap was $540,000. Q: I am 64 and want to take advantage of the ... Read more
After-tax super contributions: Beef up using a bring forward
Note: For the 2018/2019 financial year (and for the 2017/2018 year), the annual non-concessional contributions cap is $100,000, and the 3-year bring-forward cap is $300,000. (For the 2016/2017 year, the annual after-tax contributions cap was $180,000 and the 3-year bring-forward cap was $540,000.) Q: Under the ... Read more
Super contributions: Turning 65 part-way through the year
Q: I turn 65 in March 2019, which means I will be 64 years of age for a large part of the 2018/2019 financial year, but of course I turn 65 during the 2018/2019 financial year. My understanding is that because I will be under 65 for part of the 2018/2019 financial year then I can exercise the bring-forward provisions ... Read more
After-tax super contributions: What are the rules for the 2018/2019 year (and 2017/2018 year)?
The annual non-concessional contributions cap is $100,000 for the 2018/2019 year, and also for the 2017/2018 year. If a person is eligible take advantage of the bring-forward rules, then an individual can make up to $300,000 in non-concessional contributions for the 2018/2019 year (or 2017/2018 year), representing ... Read more
Bring-forward rule: A definitive super guide
Note: The information in this article relates to the 2018/2019 financial year and the 2017/2018 financial year (and also refer to the rules applicable for the 2016/2017 financial year). Since 1 July 2017 (from the 2017/2018 year), a lower annual non-concessional (after-tax) contributions cap of $100,000 applies, and ... Read more
Super contributions: Bring-forward rule and your Total Superannuation Balance
Since 1 July 2017, your Total Superannuation Balance can affect how much you can contribute to a super fund. If your Total Superannuation Balance is $1.6 million or more (for the 2017/2018 year, or for the 2018/2019 year), then you cannot make any non-concessional (after-tax) contributions – your NCC cap is nil, and ... Read more
Concessional contributions cap: A quick guide (10 Q&As)
We receive many questions about the concessional contributions caps. We regularly update readers on any changes to the contributions caps (and other super changes), and the implications of such changes on super strategies. The list of 10 Q&As set out below answer many of questions that we have received on the ... Read more
Contributions caps: What’s going on with the catch-up concessional contributions rule?
Note: In the May 2016 Federal Budget, Treasurer Scott Morrison announced the end of the over-50s concessional (before-tax) contributions cap, which took effect from 1 July 2017. Instead, the federal government introduced a catch-up opportunity for Australians with less than $500,000 in super. Continue reading for more ... Read more
Concessional contributions: Catch-up rules from July 2018 (10 Q&As)
In this article, you can find the answers to 10 important questions about the new catch-up concessional contributions rule. For information on the reduced concessional contributions cap since July 2017, see SuperGuide article Concessional contributions caps slashed since July 2017. For a comprehensive guide on ... Read more
