catching up on carry forward concessional cap | ATO Community

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(Newbie)Newbie

3 Nov 2023

I have an amount of unused carry forward concessional cap that I want to catch up on this financial year. Is it best to increase salary sacrifice to get to the limit by end of financial year or wait and just do it as a lump sum closer to that time. I'm concerned if there's any repercussions with exceeding the cap through regular salary sacrifice? What happens if I end up contributing more through salary sacrifice than the limits including all the carry forward amounts?

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(Taxicorn)Taxicorn

3 Nov 2023

Either way works, but sal sac is better for cash flow.

What happens if I end up contributing more through salary sacrifice than the limits including all the carry forward amounts?

Then you would have an excess conc contribution - ATO would amend your tax return,

but you can elect to pay from super fund.

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(Taxicorn)Taxicorn

3 Nov 2023

Either way works, but sal sac is better for cash flow.

What happens if I end up contributing more through salary sacrifice than the limits including all the carry forward amounts?

Then you would have an excess conc contribution - ATO would amend your tax return,

but you can elect to pay from super fund.

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catching up on carry forward concessional cap | ATO Community