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Concessional Contributions

Generally, a concessional contribution is a contribution that is made by or for you to a complying super fund and that is assessable income of the fund. Concessional contributions are sometimes known as 'pre-tax' contributions. These contributions include:

  • employer contributions, including
    • compulsory super guarantee contributions
    • any additional voluntary contributions your employer may make
    • salary sacrifice amounts
    • any fund costs paid by your employer on behalf of your super fund, such as administration fees and insurance premiums
  • personal contributions by an eligible person (such as a self-employed person) that are allowed as an income tax deduction

Concessional Contributions Cap
The concessional contributions cap for the 2014-15 financial year is $30,000. The cap is also $30,000 for the 2015-16 financial year.

Concessional contributions cap for those aged 49 years or over on 30 June 2014
The concessional contributions cap will be temporarily increased to $35,000 for the 2014-15 financial year if you are aged 49 years or over on 30 June 2014. The cap is also $35,000 for the 2015-16 financial year.

Tax on Concessional Contributions
Contributions tax of 15% is payable by your fund on all concessional contributions.