Superannuation Concessional Contributions

For the 2015/2016 financial year and the 2014/2015 financial year the concessional contribution cap is $30,000 (if you are over 49 years of age as at 30/06/2014 then you can contribute up to $35,000 in the 2014/2015 financial year.) (if you are over 49 years of age as at 30/06/2015 then you can contribute up to $35,000 in the 2015/2016 financial year.

If you salary sacrifice then ensure the total you have contributed does not exceed the thresholds. Remember it is the date your fund receives the funds that determines whether the amount counts towards your cap or not. As such if your employer is late or early with a contribution then your fund may receive contributions of over the cap.

Income year	Under 50	50 years to 59 years*	60 years and over*
2014/2015	$30,000	$35,000	$35,000
2013/2014	$25,000	$25,000	$35,000
2012/2013	$25,000	$25,000	$25,000
Concessional contributions cap for older Australians applies in the following way for different financial years: 2013/2014 year: If you were 59 years of age or older as at 30 June 2013 then you were eligible for the higher concessional cap of $35,000 for the 2013/2014 year. If you were 58 years or younger as at 30 June 2013, then you were eligible for the general concessional cap of $25,000 for the 2013/2014 year. 2014/2015 year:* The concessional cap for older Australians was broadened to those in their fifties from 1 July 2014. If you were 49 years of age or older as at 30 June 2014, then your concessional contributions cap for the 2014/2015 year is $35,000. 2015/2016 year: If you were 49 years of age or older as at 30 June 2015, then your concessional contributions cap for the 2015/2016 year is $35,000.