ATO on Super (DEC24)

https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf/contributions-and-rollovers/contribution-caps

Concessional contributions are subject to a yearly cap:

• From 1 July 2024, the general concessional contributions cap is $30,000 for all individuals regardless of age.

• For the 2021-22, 2022-23 and 2023-24 financial years, the general concessional contributions cap was $27,500 for all individuals regardless of age.

Unused concessional cap carry forward

From 1 July 2018, members can make 'carry-forward' concessional super contributions if they have a total superannuation balance of less than $500,000. Members can access their unused concessional contributions caps on a rolling basis for 5 years. Amounts carried forward that have not been used after 5 years will expire.

For example, a 2019–20 unused cap amount that is not used by the end of 2024–25 will expire.