In 2023/24 we contributed $15000 as a personal contribution. Our intention to claim this as a tax deduction was acknowledged by the super fund. In the same year we contributed $100,000 as a personal non concessional contribution. Our super record in early 2024/25 shows the total non concessional contribution as $115,000.
We intend to trigger bring forward non concessional contributions and make $360,000 contribution in 2024/25. If I make the $360,000 contribution now, do I exceed my non concessional cap, or is cap compliance determined when we do our 23/24 tax return and claim the $15,000 as a tax deduction? Are we safe to go with the $360,000 now or should we wait until after the tax return is lodged and MyGov shows the 2023/24 $15,000 as Concessional?
167 views
1 replies