One of the simplest ways to save for your retirement is by making contributions to your super fund.

But did you know there are different types of contributions you can make?

Concessional Contributions

• Concessional Contributions are made before tax, meaning you can claim a tax deduction.
• There is an annual cap of $30,000 (2024-2025).
• If you have a Total Super Balance (TSB) of less than $500,000 you can also roll forward any unused annual caps for the last five years.

Non-Concessional Contributions

• Non-Concessional Contributions are made after tax so there is no tax deduction available.
• There is an annual cap of $120,000 (2024-2025) if your TSB was less that $1.9m at 30 June 2024.
• There is a bring forward rule which allows you contribute up to $360,000 in one deposit (conditions apply).

We welcome our clients to call us and check whether they’re eligibility to make additional contributions.