I have recently started claiming the UK pension which I realise I will pay tax on to the ATO. I received a back dated lump sum for the year I was entitled to claim but didn’t. This went directly into my Nab account, I then transferred it to my Hesta super fund. Will this payment be considered as concessional or non concessional? I am still working and salary sacrificing so aware of caps, etc
thanks for your help
Hi @Jillo2315,
Since your UK pension lump sum went into your NAB account first and then you transferred it to Hesta, this will be treated as a non-concessional contribution.
Non-concessional contributions are made from your after-tax income – which is what happened here since the UK pension payment was already taxed and received in your personal bank account.
For 2025-26, you can contribute up to $120,000 as non-concessional contributions, or potentially more using the bring-forward arrangement.
Remember you'll still need to declare the taxable portion of your UK pension lump sum on your tax return – this is usually the growth since becoming an Australian resident.
Thank you so much that is very helpful
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