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I have a trustee thru his advisor made ncc to his super fundfor the lastr 5 years.
The first year he contribute $306000 out of a possible $540000
The next year he contribute $233K of the allowable $180K
The third year he contribted $3060 which the ATO consider breached the bring forward rules
The fourth year he contribute $75K
and the fifth year the cintribution was $300K
Could someone tell whther he has again breach the bring forward rule in the fifth year.
Hi John
It is hard to respond not having all the details re which years we are referring to, the member's age and their total superannuation balances and any details re any member taxable contributions.
If the first year was the first year he was over a yearly cap then I agree there would have been excess NCC's in the 3rd year ($306,000 + $233,000 + $3,060 = $542,060 & assume 3 year cap was $540,000 ($180,000 by 3).
The fourth year would then be year 1 and he has not triggered the bring forward rule. In the 5th year he / she should be able to make NCC's of $300,000 (3 times $100,000) if under 65 and their total superannuation balance is less than $1,400,000.
Members aged under 65 have an option to contribute up to $300,000 over a 3 year period (depending on their Total Superannuation Balance (TSB).
The current carry forward rule works as follows:
Total super balance NCC & bring forward $
< $1.4M $300,000 over 3 years
> $1.4 & < $1.5M $200,000 over 2 years
> $1.5 & < $1.6M $100,000 over 1 years
> $1.6M $0 (nil)
Thanks
Rohan