Contribution and Total Superannuation Balance

Contributing to super is a vital part of growing retirement savings. In recent years there have been various changes to contributions, primarily with the introduction of the Total Superannuation Balance (TSB) concept. The TSB is essentially the sum of an individual’s superannuation accounts, and the eligibility of members to make certain types of contributions is now governed by this total balance.

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Bring Forward Contributions

The ability to bring-forward future year entitlements to make non-concessional contributions has been in place for many years now. Prior

Understanding super terminology

An individual’s Transfer Balance Cap (TBC) and Total Superannuation Balance (TSB) are calculated differently and are separate concepts. When the

Excess Concessional Contributions

The concessional contribution cap is $30,000 from 1 July 2024. With the ability to carry forward unused concessional contributions over

Excess Non-Concessional Contributions

The non-concessional contributions cap is $120,000 from 1 July 2024, however the ability to contribute to super is dependent on

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