There are limits on the amount of concessional contributions you can have each year. For financial years before 1 July 2017, the annual limit was determined by your age at 30 June of that financial year. From 1 July 2017 onwards, one annual cap applies regardless of age.
| Financial Year | Age at end of financial year | Annual Cap |
| 2021-22 | Any | $27,500 |
| 2020-21 | Any | $25,000 |
| 2019-20 | Any | $25,000 |
| 2018-19 | Any | $25,000 |
| 2017-18 | Any | $25,000 |
| 2016-17 | 50 or over Under 50 | $35,000 $30,000 |
| 2015-16 | 50 or over Under 50 | $35,000 $30,000 |
| 2014-15 | 50 or over Under 50 | $35,000 $30,000 |
| 2013-14 | 50 or over Under 50 | $35,000 $25,000 |
| 2012-13 | Any | $25,000 |
| 2011-12 | 50 or over Under 50 | $50,000 $25,000 |
| 2010-11 | 50 or over Under 50 | $50,000 $25,000 |
| 2009-10 | 50 or over Under 50 | $50,000 $25,000 |
From 1 July 2017, the concessional contributions cap will be indexed in $2500 increments in line with changes to the Average Weekly Ordinary Time Earnings (AWOTE).
Increases to caps from carry-forward arrangements
From 1 July 2018, some members may be eligible to access a carry-forward arrangement where their concessional contributions cap for a given financial year is increased by the unused portion of their concessional contributions caps for previous financial years.
See also Carry-forward of concessional contributions
Exceeding your concessional contributions cap
You exceed your concessional contributions cap if the total amount of concessional contributions attributable to you in a given financial year exceeds the cap (adjusted for any increases to your cap under carry-forward arrangements) for that financial year. If you exceed your concessional contributions cap, you may be subject to additional taxes and charges.
From 2013-14 onwards, the amount of concessional contributions over your cap for a given financial year is added to your assessable income for that year and this will be subject to your marginal rate of tax (with an offset applied to recognise the 15% contributions tax paid by your super fund) plus a excess concessional contributions charge.
Different rules apply for excess concessional contributions applicable to the 2012-13 and earlier financial years.
Special rules for members of defined benefit schemes
Special grandfathering rules apply to individuals who were members of defined benefit superannuation schemes on 12 May 2009. Your superannuation fund trustee will determine whether the grandfathering rules apply to you.
If the grandfathering rules apply, excess concessional contributions tax will not be applicable on the amount of your notional defined benefit contributions that exceed the cap for a given financial year. You may still be liable for any Division 293 tax on some or all of your notional defined benefit contributions though.
However, if the grandfathering arrangements apply and your notional defined benefit contributions equal or exceed your concessional contributions cap, you may still pay additional tax on any amounts of other concessional contributions attributable to you for that financial year, e.g. salary sacrifice, superannuation guarantee top-up payments, and other employer contributions.
If the grandfathering rules do not apply, you may be liable for additional tax on any notional defined benefit contributions as well as any other concessional contributions that exceed the concessional contributions cap.
See also Defined Benefit Contributions