Did you know that if you have less than $500,000 in super* and you contribute below your concessional cap ($25,000) you can carry forward any unused cap for the next five years – this applies for contributions made from 1 July 2018 onwards.
So, for example, if in the 2018 tax year you only made concessional contributions of $15,000; then in this tax year you can actually make concessional contributions of $35,000 ($25,000 + $10,000 carried forward).
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* as at 30 June of the financial year immediately preceding the year in which the concessional contribution is to be made
This information is general in nature and should not be relied on for your personal financial planning needs. You should seek personal financial advice of your own.This information is general in nature and should not be relied on for your personal financial planning needs. You should seek personal financial advice of your own.
