Concessional contributions

Current rules – pre 30 June 2017

Under the current rules, the concessional contribution is based on the member’s age as at 30 June of the prior year. The current caps are:

 

                                                                   Current concessional

                                                                                    Cap 2017 Financial Year

Under age 49 as at 30 June 2016                    $30,000

49 and over as at 30 June 2016                      $35,000

 

 

1 July 2017 and beyond

The concessional contributions cap will be reduced to $25,000 from 1 July 2017 regardless of the member’s age.

 

                                                                                              From 1 July 2017

Under age 50                                                       $25,000

50 and over                                                         $25,000

 

The cap will be indexed in line with wages growth in $2,500.