Contributions Caps for 2017-18

From 1 July 2017, the amount you can contribute before tax to your super has reduced.

The concessional contribution caps have reduced from:

  • $30,000 p.a. or $35,000 p.a. for people aged 49 or over on 30 June 2016

To:

  • $25,000 p.a. for everyone from 1 July 2017.

The concessional contributions cap is the maximum concessional contributions you can make into superannuation in a financial year without being subject to additional tax. Concessional contributions include:

  • employer contributions - the 9.5% super guarantee plus any additional employer contributions;
  • amounts you salary sacrifice into your super; and
  • amounts for which you have claimed an income tax deduction.

The non-concessional contributions cap has also reduced from $180,000 to $100,000 p.a. from 1 July 2017. This cap applies to any post-tax contributions you pay into super, other than if you claim a tax deduction for the contribution.

For more information, please contact the Donna Adam at CBH Super on 9416 6235.