Does making a non-concessional contribution cap in current FY impact on 3 year bring forward rule? | ATO Community

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(Initiate)Initiate

21 May 2024

Regarding the new superannuation bring forward non-concessional contribution annual amount changing from $110k to $120k starting 1.7.24

If I make a $110k non-concessional contribution in the ’23-’24 financial year, can I then trigger the 3-year bring forward (after 1.7.24) for the new $120k amounts for ’24-’25, ’25-’26, ’26-’27 or does the financial year ’23-’24 get counted towards the 3-year bring forward arrangement?

I’m under 75 and my total superannuation balance (TSB) will not exceed $1.9m

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(Taxicorn)Taxicorn

21 May 2024

If I make a $110k non-concessional contribution in the ’23-’24 financial year, can I then trigger the 3-year bring forward (after 1.7.24) for the new $120k amounts for ’24-’25, ’25-’26, ’26-’27

Yes

TSB will need to be under 1.66 M on 30/06/2024.

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(Taxicorn)Taxicorn

21 May 2024

If I make a $110k non-concessional contribution in the ’23-’24 financial year, can I then trigger the 3-year bring forward (after 1.7.24) for the new $120k amounts for ’24-’25, ’25-’26, ’26-’27

Yes

TSB will need to be under 1.66 M on 30/06/2024.

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(I'm new)I'm new

23 July 2024

Both the question and answer are unclear to me.

Let me rephrase so I can understand it.

In 2023/24 you make a max non-concessional contribution of $110k. (all other conditions are met).

That action stands alone, no effect on future years.

In the 2024/25 years you contribute such as to "trigger" the bring forward rule by

contributing the max of $120 for 3 years 24-25,25-26,26-27, being $360k.

You are under 75yo and Super does not exceed $1.9M. (the other conditions).

This seems to abide by the rules set by ATO.

My question:

Is any action by the contributor required to forewarn the ATO or Super Fund to invoke/trigger the bring forward rule?

Or is it an "automatic" trigger within the ATO?

thanks

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(Community Support)Community Support

25 July 2024

Sure! 😎

This question has been answered in a prior post.

The bring-forward arrangement is automatically triggered when you exceed your non-concessional contribution cap.

Let us know if you need any more info.

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Does making a non-concessional contribution cap in current FY impact on 3 year bring forward rule? | ATO Community