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Contribution Caps Changes 2017 & 2018

Cap

If you are aged 65 or over you must satisfy a work test to make acceptable contributions.

  • Concessional contributions are employer contributions, salary sacrifice and personal contributions claimed as a tax deduction by a self-employed person or an investor.
    •  From 1 July 2017, you can claim a tax deduction for eligible personal contributions up to the concessional contribution cap, regardless of your employment situation.
  • Non-concessional contributions are after-tax contributions including spouse contributions and contributions made under the Co-contribution Scheme.

 Financial Year

Concessional Contributions Cap

Non-concessional Contributions Cap

2016-2017

$30,000 (up to age 48 at 30/06/2016)

$180,000 or $540,000 over 3 years

$35,000 (age 49+ at 30/06/2016)

2017-2018

$25,000 (all ages)

$100,000 or $300,000[1] over 3 years[2]


[1] It is important that you discuss with us if you have already triggered the bring-forward rule in either 2015-16 or 2016-17 as transitional arrangements may apply.

[2] You will not be able to make non-concessional contributions in the 2018 financial year, if your total superannuation balance is $1.6 million or more.  Discuss with us if you are planning to do so before 30 June 2017 as it could be your last opportunity.

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