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Find out the caps and limits on super contributions and how they are taxed. ATO Community; Legal Database; ... Keep track of your non-concessional (after-tax) contributions, which are not taxed unless you exceed the cap. ... We acknowledge the Traditional Owners and Custodians of Country throughout Australia and their continuing connection to ...

This was to exclude the contribution from counting towards his non-concessional contributions for the year. Barry's super CGT cap for the year is $1,650,000, reduced to $1,100,000 after his election to use $550,000 of his super CGT cap.

Non-Concessional Contribution Cap. The superannuation non-concessional contribution cap limits the amount you are able to contribute into super in any one financial year. The beginning of a financial year is 1 July and the end is 30 June. The standard non-concessional contribution cap for the 2025 financial year (2024/2025) is $120,000 per person.

From 1 July 2025 the non-concessional contributions cap will remain at $120,000. The two- and three-year bring forward limits also remain at $240,000 and $360,000 respectively from 1 July 2025. The total super balance thresholds for determining eligibility to make non-concessional contributions will change, as outlined in the table below ...

The bring-forward rule was triggered when Brian exceeded his normal annual non-concessional contributions cap of $110,000. As such, Brian can make a further non-concessional contribution of up to $30,000 in the three-year period from 2023/2024 - 2025/2026, if he wishes to use up his full $330,000 three-year cap.

The concessional contributions cap is a limit on the total amount of pre-tax contributions you can make in a ... The annual non-concessional contributions cap for the 2024–25 financial year is $120,000. ... Australian Taxation Office Superannuation rates and thresholds for 2024-25.

There are annual caps (or limits) on the amount of non-concessional contributions you can make into your super account. This annual cap increases in line with indexation of the concessional (before-tax) contributions cap. The general annual cap for non-concessional contributions for 2024–25 is $120,000.

The concessional contribution cap will increase from $27,500 to $30,000. The non-concessional contribution cap will increase from $110,000 to $120,000. The maximum non-concessional cap available under the bring-forward provisions will increase from $330,000 to $360,000. The concessional and non-concessional contribution caps are summarised below:

Non-concessional contribution limits for 2024 . To prevent excessive contributions and ensure fair tax treatment, the Australian Taxation Office (ATO) sets limits on NCCs. For the 2024–25 financial year, the annual non-concessional contributions cap is $110,000 per individual.

Generally, making extra concessional contributions is tax effective if you earn more than $45,000 per year. There's a limit to how much extra you can contribute. The combined total of your employer and salary sacrificed contributions must not be more than $30,000 per financial year. You can carry forward any unused concessional contributions ...

The general NCC cap available in 2024/25 is $120,000. However, depending on your total super balance on 30 June 2024 and certain other factors you may be able to utilise the bring-forward rule – see table below.. Your NCC cap amount that you can bring forward, and whether you have a two or three year bring-forward period, will depend on a number of factors, including your total super balance ...

There is a cap limit on how much you can contribute each financial year into superannuation as a non-concessional contribution. The cap limit is always four times that of the concessional contribution cap limit which makes the current cap limit $120,000 in the 2024/25 financial year.

amounts transferred from a foreign super fund that do not count towards your Australian fund’s assessable income ; ... Concessional contribution limits Non-Concessional contribution limits; $30,000 p.a. $120,000 p.a. – for those with less than $1.9m in super at the previous 30 June

There are limits to how much you can put into your super as after-tax (non-concessional) contributions. These limits apply for the 2024/25 financial year. Your total super balance also affects these limits. Tax file number (TFN) requirements ... Cbus Super acknowledges the Traditional Custodians throughout Australia and their connections to ...

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).

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.

You will need to be mindful of any age limit restrictions in making non-concessional contributions when aged 75 or more. Also, you are unable to make any further non-concessional contributions if your total superannuation balance exceeded the transfer balance cap of $1.9 million on the most recent 30 June (i.e. end of the previous financial year).

From 1 July, 2018 individuals who owned main residences in Australia for a period of 10 years or more at the date of sale, have been able (in concert with their partners/spouses even if they have not been joint owners) were able to make a non-concessional contribution to super of $300,000 from the proceeds of the sale of the residence, referred ...

The new concessional contribution cap for the 2025 financial year will increase from $27,500 to $30,000. Non-Concessional Contribution Caps: Similarly, the non-concessional contribution cap may also see adjustments for the 2025 financial year. Non-concessional contributions allow individuals to boost their retirement savings beyond the limits ...