Contribution limits

There are limits, or caps, on how much you can put into super and still receive tax concessions.

Concessional contributions cap

A concessional contributions cap of $30,000 per annum applies to all individuals regardless of age (2024/25).

The cap includes all employer super payments (including Superannuation Guarantee amounts), salary sacrificed payments and personal contributions for which you claim a tax deduction.

Each financial year (since 2018/19), you may be able to ‘carry forward’ any unused amounts under your cap into the next financial year – as long as your total super balance was less than $500,000 at the end of the previous financial year. These carried forward amounts will expire after five years.

Non-concessional contributions cap

Non-concessional contributions are capped at $120,000 per annum (2024/25).

Individuals with a super balance of $1.9 million (2024/25) and more are not eligible to make non-concessional contributions.

If you are under age 75 you may be able to ’bring forward’ the next two years’ non-concessional contributions caps. This means you can contribute up to a maximum amount of $360,000, depending on your age and total super balance. Generally, the amount can be contributed as one lump sum or spread over the three years but eligibility criteria apply. Once you trigger the bring-forward arrangement, any change to the non-concessional contributions cap for the bring-forward period doesn't apply. For example, if you triggered the bring-forward in 2023/24 financial year, your non-concessional cap will still be $330,000 ($110,000 x 3 years) and not $350,000 ($110,000 + $120,000 + $120,000).

For more information view the contributions cap info sheet.

Exceeding the caps

Concessional caps

If you exceed the concessional cap the excess concessional contributions amount is included in your assessable income and taxed at the marginal tax rate, less the 15% tax offset already paid.

Non-concessional caps

If you exceed the cap you will be informed of this by the ATO directly via a determination letter. The letter will provide two options for you, if you choose to leave the excess non-concessional contributions in your super account, you will need pay extra tax of 47%.

You may be able to withdraw the excess non-concessional funds, together with 85% of earnings that have resulted from the contribution, without penalty. The earnings will be included in your taxable income.

If you think you are likely to breach either of the caps, talk to us about your options.

For more information on caps, limits and how they are taxed visit ato.gov.au.