Contribution (concessional) limits
There are limits on how much you can contribute to your super.
Concessional contribution limits 2019 - 2020
- For the 2019 - 2020 financial year, the concessional cap is $25,000 for all individuals regardless of age.
Calculating your concessional contributions
Salary sacrifice is considered as a “concessional” contribution. Concessional contributions include:
- Salary sacrifice
- 9.5 % Super Guarantee (SG) payments made by your employer
- A personal contribution for which you make an income tax deduction claim
If you are wanting to salary sacrifice you will need to take into consideration the concessional contributions made by your employer and any other personal contributions (after-tax) for which you plan to claim an income tax deduction, to ensure you stay within the concessional tax limits.
Exceeding the concessional contribution limit
If you exceed the concessional contribution limit, you will then start to pay more tax on your contributions. For more information visit the ATO website.