Clarification on Carry-Forward Concessional Contributions

(Newbie)Newbie

21 May 2025

Dear Communities members,

I hope you're well.

I am looking to make concessional contributions this financial year and would like to confirm how they will be applied. Specifically, I have unused concessional contributions from the 2019–20 financial year, totalling $17,000, which I would like to use before my standard $30,000 concessional cap for 2024–25.

Could you please confirm whether my contributions will be processed in a way that allows me to use the 2019–20 carry-forward concessional contributions first, ensuring they do not expire after 30 June 2025?

Thank you in advance.

Jamie

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Bruce4Tax

(Taxicorn)Taxicorn

21 May 2025

Specifically, I have unused concessional contributions from the 2019–20 financial year, totalling $17,000, which I would like to use before my standard $30,000 concessional cap for 2024–25.

Then you will need to contribute 47 K before 30/06/2025

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Taxduck

(Taxicorn)Taxicorn

21 May 2025

No. From ATO

"Unused concessional cap amounts are applied automatically once you exceed the cap in any year"

Concessional contributions cap | Australian Taxation Office

The $30,000 this year needs to be used before unused years are applied. (oldest first)

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