Contribution Cap Summary for the 2015-2016 financial year
Concessional Contribution Caps
|Income Year||Aged under 49 on 30 June 2015||Aged 49 or over on 30 June 2015 (see explanation below)|
The concessional contributions cap will be temporarily increased to $35,000 for the 2014-15 financial year and onwards if you are aged 49 years or over on the last day of the previous financial year. The temporary higher cap is not indexed and will cease when the general concessional contributions cap is indexed to $35,000.
Non-Concessional Contribution Cap
|Income Year||Non-Concessional Cap||Bring-Forward Cap
(see explanation below)
People aged under 65 years at the beginning of the financial year may be able to make non-concessional contributions of up to three times their non-concessional contributions cap for the year, over a three-year period. This is known as the “bring-forward” option.