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Re: Concessional contributions cap for part-year resident

Initiate

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Is the concessional pre-tax super contributions cap limit reduced or pro-rated for a part year resident? I relocated to Australia on permanent resident visa in January this year. For the fiscal year ending June 2021, my total contributions (employer + salary sacrifice) is less than 25k. Is the concenssional contribution limit decreased for part-year residents (say 12.5k for a 6-month resident) or does it remain at full 25k? If 25k limit applies, can I contribute more for the fiscal year ending June 2021 or is it too late now? Thank you.

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Devotee

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There is no pro-rata, the full $25k limit applies.

 

Whilst it is too late to make further contributions to claim a tax deduction in your 2021 tax return, you may be eligible to make carry-forward concessional contributions in the current or later years. 

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Most helpful response

Devotee

Replies 1

There is no pro-rata, the full $25k limit applies.

 

Whilst it is too late to make further contributions to claim a tax deduction in your 2021 tax return, you may be eligible to make carry-forward concessional contributions in the current or later years. 

Initiate

Replies 0

@Glenn4802  This is helpful. Thank you so much for answering.