For the financial year 2025-26, the concessional super contribution remains cap remains at $30,000. The non-concessional annual contribution cap will also remain at $120,000.
For concessional contributions, you may be eligible for a higher cap if your total superannuation balance was less than $500,000 on 30 June of the previous financial year and you have not used all your concessional caps for the last five financial years. If you exceed this cap, the excess contributions will be taxed at your marginal tax rate (tax rate you pay on your income).
If you are aged 67 to 74 you must meet a work test in order to claim a deduction for personal after-tax contributions.
For non-concessional contributions, the annual contribution cap is $120,000. However, depending on your total superannuation balance last 30 June, you may be eligible to bring forward up to two financial years’ non-concessional super contribution caps, effectively allowing you to contribute up to $360,000 in one go.
Keep in mind that if your total superannuation balance last 30 June is $2.0 million or more, you cannot make non-concessional super contributions for the 2025-26 financial year.
Financial Lifestyle Partners and its advisers are Authorised Representatives of Fortnum Private Wealth Ltd.
ABN 54 139 889 535, AFSL 357306. http://fortnum.com.au
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