Unused Concessional Cap Carry Forward

From 1 July 2018 if you have a total superannuation balance of less than $500,000 on 30 June of the previous financial year, you may be entitled to contribute more than the general concessional contributions cap and make additional concessional contributions for any unused amounts.

The first year you will be entitled to carry forward unused amounts is the 2019–20 financial year. Unused amounts are available for a maximum of five years, and after this period will expire.

If you have any queries, please contact us.

Unused concessional cap carry forward

Description

2017–18

2018–19

2019–20

2020–21

2021–22

General contributions cap

$25,000

$25,000

$25,000

$25,000

$25,000

Total unused available cap accrued

Not applicable

$0

$22,000

$44,000

$69,000

Maximum cap available

$25,000

$25,000

$47,000

$25,000

$94,000

Superannuation balance 30 June prior year

Not applicable

$480,000

$490,000

$505,000

$490,000

Concessional contributions

nil

$3,000

$3,000

nil

nil

Unused concessional cap amount accrued in the relevant financial year

$0

$22,000

$22,000

$25,000

$25,000

Note: This table assumes no indexing of general cap.

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