How much can you contribute to super?

The 2009 Federal Budget reduced contribution caps.  These alterations are
shown in red in the following table.

The 2010 Henry Tax Review made further changes:  From 1 July 2012 - Workers aged 50 and over with superannuation balances below $500,000 will be able to make up to $50,000 in annual, concessional superannuation contributions.

 

Type of Contribution	Cap	Special arrangement or transitional rule
Concessional Contributions	$50,000 pa** or $100,000 pa under ”transitional arrangements.” Now $25,000 and $50,000 respectively	Transitional arrangements are for a person who is age 50 or over in a financial year until 30 June 2012.
Non-Concessional Contributions	$150,000 pa*** Remains at $150,000 (indexed for 2009/10).  In the future, the cap will be calculated at 6 times the (indexed) Concessional Contributions cap.	If under 65 you can bring forward 2 years of caps.  This means you may contribute $450,000 ($150,000 plus $300,000) in one year.

Notes:

 

    *  These Caps are also used to limit the amount of contributions a superannuation fund can accept in some circumstances.

    **  Indexed to average weekly ordinary time earnings after 1 July 2008, but it is only increased
by $5,000 amounts.  Includes super guarantee contributions + any salary sacrifice.

    *** The amount for 2007/2008. Indexed at 3 times the basic Concessional Cap.

 

Small Business Roll-over Relief.  Special provisions exists for additional contributions for business owner retirees who sell a particular class of  "active business asset"  to fund retirement.