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October 22, 2021

Catch Up Concessional Contributions

Concessional contribution cap

Concessional contributions to superannuation can be a tax effective way to boost your super savings and provide you with an income in retirement.

As of the 2018/19 financial year there is opportunity to accrue unused concessional contribution cap amounts for up to five years before they expire.  To be eligible to make catch-up contributions, your total superannuation balance must be below $500,000 on 30 June the previous financial year.

This provides greater flexibility for people to make concessional contributions, which is particularly helpful for people with fluctuating incomes, those having a break from work or if a higher tax deduction is required in a single financial year.

For example, in June 2022 you have a superannuation balance of $265,000.  You have made irregular concessional contributions since 2018/19 as follows:

Financial YearAnnual Concessional Contribution CapConcessional Contribution Made
2018/19$ 25,000$16,000
2019/20$ 25,000$18,000
2020/21$ 25,000Nil
2021/22$ 27,500$20,000
2022/23$ 27,500Nil

Your total contributions over the five-year period to 2022/23 total $54,000 of a possible $130,000, leaving $76,000 in unused concessional contributions.  This means you can make a concessional contribution of up to $76,000 in the 2022/23 financial year without tax penalty. 

To help you make the most of catch-up concessional contribution you may wish to consider:

  • Salary Sacrifice– arranging with your employer to pay some of your pre-tax salary into superannuation (above the current 10% super guarantee contribution)
  • Personal Contributions– you can claim a deduction for personal super contributions whether you are an employee or self employed

For concessional contribution advice tailored to your personal situation, please reach out:


Wilton Wong Financial Adviser / Managing Director   

This information is general advice only and does not take into account your personal circumstances, goals and objectives. Therefore, you should consider its appropriateness for your circumstances before acting on this information.


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