How much can I contribute in 2025/26? Below concessional contributions made in previous years.
2018/2019 - $9,694
2019/2020 - $5,558
2020/2021 - $42,038.02
2021/2022 - $19,623.66
2022/2023 - $18,760.78
2023/2024 - $32,291.69
2024/2025 - $37,241.07
Was your superannuation balance at 30 June 2020 less than $500k? Similarly, was your super balance at 30 June 2023 and 30 June 2024 less than $500k? If so, you may not have exceeded your concessional contributions caps due to the ability to access carry forward concessional contribution cap amounts from the preceding 5 years if the balance in your super fund start of the year was less than $500k. Jump onto myGov and under super you will be able to find out what your current year and any prior year carry forward concessional amounts remaining are. If someone does exceed the concessional cap, then the excess is supposed to be included in your tax return and assessed at your marginal tax rate with a tax credit for the 15% contributions tax paid within the super fund. You can withdraw up to 85% of the excess amount from your super fund to pay that tax, and if you elect not to, then that amount remains in your super fund but is counted towards your non-concessional contributions cap for that year.
tldr: jump onto myGov and check under super
Balance was under $500K at all times. Didn't know I could check it on MyGov. The unused cap from previous years is $16,615 which makes sense. Thank you.
10 Apr 2025 · 4 min read time
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