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Keep up to date on super contribution cap changes

Money Tips

Superannuation contribution cap changes from 1 July

From 1 July 2024, the superannuation concessional and non-concessional contribution caps are increasing – meaning you can put more money into your super fund.

The concessional contributions cap – that is, pre-tax contributions such as employer contributions and salary sacrifice – will rise from $27,500 to $30,000 per year.

The non-concessional contributions cap – that is, contributions that have already been taxed – is increasing from $110,000 to $120,000, for those with super balances under $1.9m.

“If you can contribute to your superannuation balance in addition to employer contributions, it’s good to do so,” says Louise Lakomy, Director at Crystal Wealth Partners.

“It all adds up and the compounding effect of additional contributions can be significant over time.”

Bring-forward arrangements

If you’re eligible, unused concessional and non-concessional contribution allowances may be carried over, under the bring-forward arrangement.

If you have a total super balance of less than $500,000 as of 30 June the previous year, and have unused concessional contribution cap amounts from up to five previous years, you can bring these forward.

When it comes to non-concessional contributions, you may be able to make up to $360,000 of non-concessional contributions under the bring-forward arrangement.

Total super balance (30 June 2023) Maximum total contribution during bring-forward period Bring-forward period
Less than $1.66m $360,000 3 years
$1.66m to less than $1.78m $240,000 2 years
$1.78m to less than $1.9m $120,000 n/a
$1.9m or more n/a n/a


For more information about the new super contribution thresholds for 2024/25 and how they will affect you, speak to your Crystal Wealth adviser.

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