IF I COMMENCE A BRING FORWARD CONTRIBUTION IN THE 2025-26 FINANCIAL YEAR
1. DO I HAVE TO CONTRIBUTE THE WHOLE $360K AS A LUMP SUM AMOUNT WHEN THE BRING FORWARD COMMENCES OR CAN I SPREAD THE DEPOSITS OVER THE 3 YEAR CYCLE?
2.CAN I ALSO MAKE CONCESSIONAL CONTRIBUTIONS IN THESE 3YEARS ?
Hi @mystras,
If you're eligible and trigger the bring forward rule, you don’t need to contribute the full $360,000 as a lump sum. You can spread it over the three-year to a maximum of $360,000. Any amount over the $360,000 (in the three-year period) will likely be considered exceeding your non-concessional cap.
Yes, you can still make concessional contributions during this time. The bring-forward rule only applies to non-concessional (after-tax) contributions. Amounts above your concessional cap (per financial year), will count towards your non-concessional amount (and bring forward rule if triggered).
Hi @mystras,
If you're eligible and trigger the bring forward rule, you don’t need to contribute the full $360,000 as a lump sum. You can spread it over the three-year to a maximum of $360,000. Any amount over the $360,000 (in the three-year period) will likely be considered exceeding your non-concessional cap.
Yes, you can still make concessional contributions during this time. The bring-forward rule only applies to non-concessional (after-tax) contributions. Amounts above your concessional cap (per financial year), will count towards your non-concessional amount (and bring forward rule if triggered).
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