I’ve checked my superannuation on the MyGov website and have unused concessional contributions available. My Super balance is below the $500k threshold at 30 June 2022. I do not make over $250,000. The ATO has advised I’m eligible.
This financial year I have super paid by my employer, and I salary sacrifice. At the rate I am going, I will exceed the $27,500 limit for the year in these pre-taxed contributions come June 2023. Let's say it'll come to $30,000 contributed total (employer plus salary sacrifice) at the end of this financial year. Because I have roughly $20,000 in unused cap available, is this OK? Can I just keep going and end the year with the $30,000 contributed and it'll automatically know that the $2,500 excess should come off my $20,000 unused cap? Or do I need to stop salary sacrificing so that I'm under the $27,500, and then submit any additional amounts over that in post-tax dollars, and submit that form that says I intend to claim them at tax time...?
I really just want to know if I can keep going as I am, or if I need to stop at $27.5k and take special measures to use my unused cap. Thank you.
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