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 an individual’s Total Superannuation Balance and satisfying certain age-based criteria. The ability to bring forward non-concessional contributions over a 3-year period in some cases further complicates matters and when there is uncertainty around what an individual’s non-concessional contribution cap is, then excess non-concessional contributions can arise. This fact sheet will give a general overview of the current position on what happens when the non-concessional contributions cap is exceeded.

To read this fact sheet in its entirety download the PDF version here.

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

Implications of Late Lodgement of your SMSF Annual Return

The SMSF Annual Return is an important document that covers the income tax return, regulatory information and member contribution reporting;

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