Contribution caps

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There are two types of super contributions:

Concessional
Non-concessional.

Concessional (before tax) contribution caps

Concessional contributions include:

All employer contributions (including salary sacrifice)
Personal contributions for which you claim an income tax deduction (eg. self-employed people)

Check out the Australian Taxation Office (ATO) website for a more detailed definition of concessional caps.

$25,000 cap for people aged under 50

The concessional contributions cap has been reduced to an annual cap of $25,000 (indexed) for contributions made in 2011-2012 and thereafter.

Transitional $50,000 cap for people over 50

The concessional contributions cap for those aged 50 and over has been reduced to $50,000 for contributions made in 2011-2012 and thereafter (until expiry after 30 June 2012).

What if you exceed the cap?

Contributions above the cap will be taxed at 31.5% (in addition to 15% paid by the super fund). If you exceed a contributions cap, you will receive an excess contributions tax assessment from the ATO. You will be required to pay the excess tax yourself and/or by drawing on your super.

Any concessional contributions in excess of the cap will also count towards the non-concessional contributions cap.

Non-concessional (after tax) contribution caps

Non-concessional contributions include:

Personal member contributions (no tax deduction claimed)
Spouse contributions
Any excessive concessional contributions

The non-concessional contribution cap is $150,000 (indexed) for 2011-2012.

Check out the ATO website for a more detailed definition of non-concessional caps.

Summary of contribution caps

	Concessional cap (for people under 50) *	Transitional concessional cap (for people over 50)	Non-concessional cap **
2011-12 financial year	$25,000	$50,000	$150,000
2010-11 financial year	$25,000	$50,000	$150,000
2009-10 financial year	$25,000	$50,000	$150,000
2008-09 and 2007-08 financial year	$50,000	$100,000	$150,000
Tax on amounts over the cap	31.5% (in addition to the 15% paid by super fund)	31.5% (in addition to the 15% paid by super fund)	46.5%
Other information	Any concessional contributions in excess of the cap will also count towards the non-concessional contributions cap	Any concessional contributions in excess of the cap will also count towards the non-concessional contributions cap. Not indexed. Transitional arrangements stop after 30 June 2012.	People under 65 can also bring forward two years, allowing you to contribute up to three times the cap at once, or at any time during the three financial years.