Age Pension calculator| Contribution type | 2024–25 |
|---|---|
CGT lifetime cap |
$1,780,000 |
Basic concessional contributions cap1 |
$30,000 |
Non-concessional contributions cap2 |
|
Total super balance at 30 June 2024 is below $1.9 million |
$120,000 |
Total super balance at 30 June 2024 is $1.9 million or more |
Nil |
Downsizer contributions cap3 |
$300,000 |
| Contribution Cap |
||
|---|---|---|
2017-18 |
||
1 |
Individuals may accrue unused basic concessional contributions cap amounts from the 2018–19 financial year onwards. These amounts may be used in later income years (2019–20 onwards) if the member’s total superannuation balance is less than $500,000 on 30 June of the previous financial year. Accrued unused basic concessional contributions cap amounts may be carried forward for a maximum of five years. For more information see the FirstTech Super and Retirement Income Streams Guide. |
2 |
The bring-forward rule may allow an individual to bring forward up to two future years of non-concessional contributions caps into the current year (in addition to the standard non-concessional contributions cap), depending on a person’s age, past use of the bring forward rule and total superannuation balance at 30 June 2024. |
3 |
The amount of downsizer contributions a person can make may be limited to an amount less than the downsizer contributions cap where the sale proceeds from a qualifying property are less than $300,000. See Downsizer contributions in this guide, and the FirstTech Super and Retirement Income Streams Guide for more information. |
First Home Super Saver Scheme (FHSSS) contributions may be made from 1 July 2017 and count toward either the non-concessional contributions cap or the concessional contributions cap.
For more information on contributions caps see the following sections of this guide:
CGT lifetime cap, Basic concessional contributions cap, Non-concessional contributions cap, First Home Super Saver Scheme and Downsizer contributions.