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If your combined income and concessional super contributions are more than $250,000, you may have to pay Division 293 tax on your contributions. While there are restrictions on contributions, and your total super balance affects how the super rules apply to you, there is no limit on the total amount you can hold in accumulation phase in one or ...

If your income and concessional super contributions total more than $250,000, check if you have to pay Division 293 tax. Super contributions to defined benefit and constitutionally protected funds Find out about caps on contributions to defined benefit funds and constitutionally protected (CPF) funds.

Concessional super contributions are taxed at the special low rate of 15% (if your income plus concessional contributions is under $250,000) to help you save for your retirement. ... The general concessional contributions cap is indexed and any contributions over this limit are subject to extra tax (see section below). The cap is indexed in ...

Contribution caps limit how much you can contribute to your super each financial year. The cap amount depends on your age, super balance, and what types of contributions are made, after-tax (non-concessional) or before-tax (concessional). The information below describes the contribution caps and tax rates for the 2024/25 financial year.

The two types of contributions you can make into super are concessional contributions and non-concessional contributions. Concessional Contribution Cap. The general concessional contribution cap is $30,000 per person for the 2025 financial year. This is the maximum amount that can be contributed into super as a concessional contribution ...

The non-concessional (after tax) contributions cap for 2024/25 is $120,000 p.a. - or under certain criteria $360,000 over three years. These contributions are voluntary payments to your super that aren't claimed as a tax deduction and are not taxed when paid to your super. But your total super balance must be less than $1.9 million.

Super Concessional Contributions Cap. The superannuation concessional contribution cap is assessed on a per person, per annum basis. The concessional contribution cap for the 2024/2025 financial year is $30,000. This means that the maximum that can be contributed into your super account as a concessional contribution each year is $30,000.

Tax laws limit the amount of money you can voluntarily contribute to your super account on a concessional basis. 'Concessional' means the contribution is tax deductible. Current super contribution cap for 2025 (2024-25 year) is $30,000 for all age groups. Current super contribution cap for 2026 (2025-26 year) is $30,000…

The concessional contributions cap is a limit on the total amount of pre-tax contributions you can make in a ... If your combined income and concessional super contributions exceed $250,000 you pay an additional 15% tax on concessional contributions, known as Division 293 tax. This tax is levied on the excess over the $250,000 threshold, or on

Concessional Contribution Limits. The concessional contribution cap is $30,000 per person, per financial year. All types of concessional contributions count towards this cap. You are able to carry-forward any unused portion of your super concessional contributions cap each year, from the 2019 financial year onwards, for a period of 5 years ...

Thomson Reuters has released the latest superannuation rates and thresholds for the 2025-26 financial year, based on the Australian Bureau of Statistics' AWOTE figures and in line with Subdivision 960-M of the ITAA 1997. While the concessional contributions cap remains unchanged at $30,000, several other important thresholds are set to increase from 1 July 2025.

you will exceed your concessional (before-tax) contributions cap, which limits the amount that can be contributed to your super fund that is taxed at the concessional rate of 15% you will have to pay Division 293 tax , which applies when your combined income and concessional super contributions for Division 293 purposes is more than $250,000

Non-concessional contributions cap. Non-concessional contributions are capped at $120,000 per annum (2024/25). Individuals with a super balance of $1.9 million (2024/25) and more are not eligible to make non-concessional contributions. If you are under age 75 you may be able to ’bring forward’ the next two years’ non-concessional ...

These limits are called 'contribution caps'. If you go over these caps, you may need to pay extra tax. There are two different types of contributions you can make to your super. Concessional contributions are before-tax contributions and are generally taxed at 15%.

The concessional contributions cap is a limit on the total amount of pre-tax contributions you can make in a financial year. Any contributions above this cap will incur additional tax. ... If your combined income and concessional super contributions exceed $250,000 you pay an additional 15% tax on concessional contributions, known as Division ...

For example, if non-concessional contributions of $121,000 are made in the first year, thereby triggering the three year bring-forward rule, the maximum amount of non-concessional contributions that can be made over the course of the following two financial years is $239,000 (i.e. $360,000 – $121,000).

Mandated employer contributions (e.g. super guarantee contributions) can be made irrespective of age. Age. Contribution Requirements. Under age 18 ... This means that in 2024-25, the maximum concessional contributions that could be made, provided her total superannuation balance as at 30 June 2024 was less than $500,000, are $47,500 (the basic ...

Between 10 May 2006 and 30 June 2007, you could contribute up to $1 million of non-concessional contributions to your super fund. This limit was referred to as the transitional non-concessional contributions cap. If you had more than one fund, all non-concessional contributions made to all your funds were added together and counted towards the cap.

Non-concessional contributions. The non-concessional contributions cap - any contribution made to your super from after-tax earnings - is calculated at four times the concessional cap, so 4 * $30,000, or $120,000 for the 2025-26 financial year. The two- and three-year bring forward limits also remain at $240,000 and $360,000 from 1 July 2025.