Annual contribution caps apply to the super contributions made to your super each financial year. If you contribute more than the cap, you may have to pay extra tax.
Your cap depends on your account balance and the type of contribution.
Contributions that are made into your super account before tax. These include:
Important: If you have more than one fund, concessional contributions made to all your funds during a financial year are added together and counted towards your concessional contributions cap.
Your cap may be higher if you didn’t use your full amount in earlier years and your total super balance is less than $500,000 on 30 June of the previous financial year.
Important: if you have more than one fund, all non-concessional contributions made to all of your funds are added together and counted towards the non-concessional contributions cap.
Your cap might be different. It can be:
Bring forward rule for non-concessional contributions
If you're under 65 and have less than $1.7 million in super, you may be able to bring forward up to three years of non-concessional (after-tax) contributions. This means you can contribute up to $330,000 over three years, rather than $110,000 each year.
For example, if you contribute $150,000 in non-concessional contributions in the 2021-22 financial year, you’ll go over the $110,000 cap by $40,000. The bring-forward rule allows you to make this contribution and contribute another $180,000 over the following two years without breaching the cap.
Visit the ATO website for more information about contribution limits and the bring forward rule.