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Concessional Contributions Cap

A limit of $25,000 (indexed) per year on concessional contributions. However, for those 50 or over, there will be a transitional limit of $50,000 (not indexed) but only until 30 June 2012. Contributions in excess of the limit will be subject to the excess concessional contributions tax. The Government has announced that from 1 July 2012, a person aged 50 and over in a financial year with a superannuation account balance of $500,000 or under will have a limit of $50,000 (indexed) in that year.

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