My super balance as of 30th June 2024 was over $500k; since we are now in the 2024/25 financial year, can I confirm I am no longer eligible, regardless of eligibility in 2023/24 (i.e. I would have had to have made the contribution prior to 01st July 2024)?
Thanks in advance!
Unused cap amounts are available for 5 years. Before the end of 2024/25, you can use unused cap amount from years 19/20, 20/21, 21/22, 22/23, 23/24. The oldest unused cap amounts are used first to increase current year cap.
Unused cap amounts are available for 5 years. Before the end of 2024/25, you can use unused cap amount from years 19/20, 20/21, 21/22, 22/23, 23/24. The oldest unused cap amounts are used first to increase current year cap.
Thanks for the reply.
My question relates to this condition of eligibility:
"a total super balance of less than $500,000 at 30 June of the previous financial year"
My super was greater than $500,000 as of 30th June 2024. So now that we're in the 2024/25 financial year, am I correct in thinking I'm no longer eligible (regardless of my eligibility status prior to 1st July 2024)? Thanks in advance
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