Are you wanting to contribute more into Superannuation?


The Federal Government has announced that concessional and non-concessional superannuation contribution caps will increase from 1 July 2024.

The concessional contributions cap, which applies to employer, salary-sacrificed contributions and personal contributions claimed as a tax deduction will increase from $27,500 to $30,000.

The non-concessional contributions cap (NCC), which applies to after-tax contribution will increase from $110,000 to $120,000, if the member meets the relevant conditions, they could contribute up to $360,000 (bring forward rules).

From 1 July 2024, the total superannuation balance (TSB) thresholds, used to determine the maximum amount of the bring-forward NCCs available to member, will be adjusted as follows:


TSB as at 30 June 2024 Maximum NCC cap Bring forward period
< $1.66 mil $360,000 3 years
$1.66 mil to < $1.78 mil $240,000 2 years
$1.78 mil < $1.9 mil $120,000 1 year
$1.9 mil + $0 0