‑1 What this Division is about
There is a cap on the amount of superannuation contributions that may receive concessional tax treatment for an individual in a financial year. You can carry forward unused concessional contributions cap from the previous 5 financial years and use it to increase your cap in a later financial year (unless your total superannuation balance equals or exceeds $500,000). Superannuation contributions that exceed your concessional contributions cap are included in your assessable income for the corresponding income year. A tax offset compensates for the tax that generally applies to the contributions in the superannuation fund. Note: Part 2‑35 in Schedule 1 to the Taxation Administration Act 1953 contains rules about releasing the excess concessional contributions from superannuation.
Sourced from the Federal Register of Legislation at 25 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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