I want to make an after tax contribution. I worked last year and made a $20000 contribution which I claimed as concessional. I have not worked this financial year. Can I make a non-concessional contribution of $80000 without being able to satisfy the work test? I gather the money will not be taxed in my super account. I don't understand why any contribution needs to be concessional.
Can I make a non-concessional contribution of $80000 without being able to satisfy the work test?
Yes - as long as your NCC cap allows.
Can I make a non-concessional contribution of $80000 without being able to satisfy the work test?
Yes - as long as your NCC cap allows.
You can make a non-concessional contribution to superannuation if you are 72 as long as you are under the total superannuation balance cap of $2M. Also, as long as you haven't exceeded any bring forward cap in the previous 3 years.
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