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_scocat(Initiate)Initiate
26 June 2021

Hi

I am 57 years old and have been self employed for over 35 years.

I never had any superannuation until the 2019-20 financial year

In 2019-2020 I started making voluntary SGC payments as part of my own wages

My superannuation balance is obviously well under the $500,000 balance cap making myself eligible for using the carry forward rule.

My understanding is, I should in 2020-21 be eligible for catching up to a total of $75,000 in concessional contributions into super using this rule (Or $100,000 by 2021-22). Which is what I hope to do.

My problem is:

When I login to the ATO portal for my account and go to the Superannuation ‘Carry forward concessional contributions' section, under the 2019-20 financial year it displays:

“We currently have no carry forward concessional contributions information to display�.

It should be showing $25,000 in 2019-20 as the total carry forward concessional contributions cap, and nil as contributions counting towards my cap.

For the 2020-21 financial year it shows $25,000 as my total carry forward concessional contributions cap instead of what I would think should be $50,000.

It correctly displays the amount of my concessional contributions counting towards my cap (Made in 2019-20).

My questions are:

  1. Why does the ATO portal not include the 2018-19 carry forward amount of $ 25,000?
  2. How do I fix it?

Thank you in advance for your reply.

1,075 views
11 replies
1,075 views
11 replies

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Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
26 June 2021

My questions are:

  1. Why does the ATO portal not include the 2018-19 carry forward amount of $ 25,000?
  2. How do I fix it?

1. From what you say, it should be showing $ 25000 - 2020-21 is not finished yet, so there should not be anything shown yet.

2. You don't have to do - it is only a guide. I think it is correct, anyway - because you can't count 2021 yet.

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Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
26 June 2021

My questions are:

  1. Why does the ATO portal not include the 2018-19 carry forward amount of $ 25,000?
  2. How do I fix it?

1. From what you say, it should be showing $ 25000 - 2020-21 is not finished yet, so there should not be anything shown yet.

2. You don't have to do - it is only a guide. I think it is correct, anyway - because you can't count 2021 yet.

_scocat(Initiate)Initiate
26 June 2021

Hi Bruce4Tax,

Thanks for the reply

To clarify

2018-2019 allowed cap is 25,000

Therefore 2019-20 should show carried forward 25,000. It shows the message saying "We currently have no carry forward concessional contributions information to display"

2019-20 allowed cap is an additional 25,000

Therefore 2020-21 should show carried forward 50,000. It shows 25,000

Because I didnt have any superannuation at all in 2018-2019, its not giving me the allowable 25,000 to carry forward

???

So, it should be showing 50,000 carried forward as the cap amount. I also logged into my other half's ATO account and it shows correctly

Bruce4Tax(Taxicorn)Taxicorn
27 June 2021

Therefore 2020-21 should show carried forward 50,000. It shows 25,000

As I said before, this is correct.

Looking at a SMSF member's position on online services, 2021 shows

50,000 less actual = amount carried forward from [2019 + 2020] to 2021.

The $ 25000 for 2021 cannot show as carried forward to 2021, so your 2021 should be

50,000 less 25,000 = 25,000.

i am looking at these for clients all the time - this is how you read it.

_scocat(Initiate)Initiate
27 June 2021

I think something is missing in the translation :)

My wife has had a super account for 30 years

My wife's shows for 2019-20 as 25,000 for the Contributions cap carried forward (2018-19 year)

My wife's shows for 2020-21 as 50,000 for the Contributions cap carried forward (2018-19 + 2019-20 years)

I started contributing to a new Super fund in 2020 (Previously None)

Mine shows for 2019-20 a message “We currently have no carry forward concessional contributions information to display� (no 2018-19 cap value)

Mine shows for 2020-21 as 25,000 for the Contributions cap carried forward (25000 for 2019-20 only, nothing for 2018-19)

I should I believe have the same Contributions cap value as my wife 50,000 carried forward to 2020-21 for the two years 2018-19 and 2019-20.

Bruce4Tax(Taxicorn)Taxicorn
27 June 2021

I should I believe have the same Contributions cap value as my wife 50,000 carried forward to 2020-21 for the two years 2018-19 and 2019-20.

None of this changes what I said before.

_scocat(Initiate)Initiate
27 June 2021

You might be thinking a s**t, why doesnt he understand, but I dont... :)

Why would my wifes show 50,0000 in the ATO Portal, and mine only show 25,000 as the "Total carry forward concessional contributions cap"

Bruce4Tax(Taxicorn)Taxicorn
27 June 2021

Why would my wifes show 50,0000 in the ATO Portal, and mine only show 25,000 as the "Total carry forward concessional contributions cap"

Perhaps ATO can answer that.

BlakeATO(Community Support)Community Support
30 June 2021

Hi @scocat

@Bruce4Tax is right - your carry-forward amounts for the 2021 year have not yet been carried forward because the financial year hasn't ended yet.

If you didn't have a super fund prior to the 2019-2020 year, you can't carry forward any unused cap, because there was no account to carry forward. Once you open an account, you will begin to accumulate unused cap amounts. This is why you don't have any carry-forward amounts for 2017-2018.

You can read about carry-forward unused concessional contributions on our website.

_scocat(Initiate)Initiate
30 June 2021

Thanks for the reply Blake,

I think you have answered the part I didnt understand, that is "If you didn't have a super fund prior to the 2019-2020 year, you can't carry forward any unused cap, because there was no account to carry forward"

On the ATO website and I believe the legislation it says:

---

To use your unused cap amounts you need to meet two conditions:

  • Your total super balance at the end of 30 June of the previous financial year is less than $500,000.
  • You made concessional contributions in the financial year that exceeded your general concessional contributions cap.

---

It doesnt say you had to have a super fund?

I thought the intention of the legislation was to enable people like me who didnt have much, or any, super catch up.

So is what you are saying that as I didnt have a super account at all in 2018-19, I'm stuffed and miss out on the 25,000 for that year?

JodieR_ATO(Community Support)Community Support
6 July 2021

Hi @scocat,

You have advised 'My wife's shows for 2019-20 as 25,000 for the Contributions cap carried forward (2018-19 year)

My wife's shows for 2020-21 as 50,000 for the Contributions cap carried forward (2018-19 + 2019-20 years).

As @BlakeATO and Bruce4Tax advised, the amounts reflect the year of the contribution. You still have cap space available and can still use the previous years unused amounts. We only reflect what we know, this is from when your super fund reports and you lodge your return. As long as your super balance is under $500k, you can use the unused carry forward concessional contributions from previous years.

We have answered a similar post on our forum, you can view our response here.

You can also view carry forward concessional contributions information via this link.

All the best.

_scocat(Initiate)Initiate
6 July 2021

Thanks Jodi,

So its just that because I didnt have a fund, the ATO doesnt have the info for that year

I appreciate your help :)

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