Is redundancy payment taxable for someone over 67 years old?

Question

Deb_ATO · Accepted Answer

We don't separate contributions when its determined you've exceeded to cap. They're applied automatically once you've exceed the cap in any year.   Check out our further info on the Carry forward unused contribution cap amounts (https://www.ato.gov.au/individuals/super/growing-and-keeping-track-of-your-super/caps-limits-and-tax-on-super-contributions/concessional-contributions-cap/#Carryforwardunusedcontributions).

Bruce4Tax · Answer

Yes, you can certainly contribute to super. The amount you can claim as a tax deduction will depend on your personal concessional contribution cap.

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