| Total superannuation balance | Non-concessional contributions cap |
|---|---|
| at 30 June 2024 | 2024–25 |
Less than $1.9 million |
$120,000 |
$1.9 million or more |
Nil |
Refer to the FirstTech Super and Retirement Income Streams Guide for more information on the types of contributions that count against the non-concessional contributions cap.
| Total superannuation balance | 2024–25 |
|---|---|
| at 30 June 2024 | Non-concessional contributions cap including bring-forward |
Less than $1.66 million |
$360,000 |
At least $1.66 million but less than $1.78 million |
$240,000 |
At least $1.78 million but less than $1.9 million |
$120,000 |
$1.9 million or more |
Nil |
The bring-forward rule is available to members aged under 75 at any time in a financial year, who are not in a bring-forward period, subject to total superannuation balance as shown above. Personal contributions cannot be accepted by a super fund more than 28 days after the end of the month in which a member turns 75.
Please see the FirstTech Super and Retirement Income Streams Guide for bring-forward thresholds prior to 1 July 2024.
| Amount | Tax rate |
|---|---|
| 2024–25 | |
Within cap |
Nil |
Exceeding cap and not withdrawn |
47% which must be paid from the fund |
Exceeding cap and either:
|
Associated earnings assessable to individual and taxed at MTR plus Medicare levy (less a 15% tax offset) |
For more information, refer to the FirstTech Super and Retirement Income Streams Guide.
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