Take advantage of extra non-concessional contributions
A special rule enables you to ‘bring forward’ up to three years’ worth of contributions.
If you are under 75, you may make up to three years’ worth of extra non-concessional contributions in a single year. This means you ‘bring forward’ your non-concessional cap up to two financial years. This allows you to contribute up to $330,000 in one financial year.
To access the bring forward arrangement in 2023/24:
- You must be under 75 years of age on 1 July of the first financial year (trigger year). Before 2022/23 the age was under 67 years.
- If you have a high total super balance on 30 June 2023, your ability to take advantage of these arrangements in 2023/24 will be limited as shown below.
The following table shows the bring-forward arrangement for the first year:
Scroll table horizontally on mobile
|Total super balance on 30 June of previous year
||Non-concessional contributions cap for the first year
|Less than $1.68 million
|$1.68 million to less than $1.79 million
|$1.79 million to less than $1.9 million
||No bring-forward period, general non-concessional contributions cap applies
|$1.9 million or more
If you contribute $330,000 in one financial year, you’ll need to wait two financial years to contribute more.