.png)
I have a client who is 69 years of age and has Pension Account of $1,408,220 as at 30/06/2023. Client reached the Pension cap of $1.7m in prior year. Can the client make Non Concessional Contribution of $330,000 in 30 June 2024 finacial year.
Thanks
top of page
THE AUDITORS INSTITUTE | FORUM
Archived Forums
When you become a member of The Auditors Institute, you immediately gain access to expertise, advocacy for your profession and peace of mind.
Ask a question in our members-only forum or use the search function to find prior technical discussions on your topic. You can expect a response within 24-48hrs.
Disclaimer
The forum is made available by The Auditors Institute Ltd for the benefit of it’s members only, and its primary purpose is to facilitate education, training, and discussion between members. The information and answers provided within the forum are of a general nature and do not consider any specific circumstances, objectives, financial situation or needs related to the matter/s raised. The responses should not be construed as financial advice, and each Member should seek their own professional advice before making any decisions. The Auditors Institute Ltd and its representatives are not responsible for any actions taken based on the information provided in the forum.
bottom of page
Hi Shalendra
If a person's total super balance is less than $1.68M at 30/6/2023 their non-concessional contributions cap is $330,000 in the 2023/24 year if they are under 75 years of age. This assumes they were not already in a bring forward arrangement.
A great reference is that explains the rule changes and cap amounts over the years is:
Thanks
The Auditors Institute