A recent measure that provides a tax saving as well as a wealth creation opportunity is the carry forward concessional unused contributions measure

  • From 2019–20, carry-forward rules allow you to make extra concessional contributions – above the general concessional contributions cap – without having to pay extra tax.
  • The carry-forward arrangements involve accessing unused concessional cap amounts from previous years.
  • An unused cap amount occurs when the concessional contributions you made in a financial year were less than your general concessional contributions cap.
  • Unused cap amounts are available for a maximum of five years and will expire after this. For example, a 2018–19 unused cap amount which is not used by the end of 2023–24 will expire.

The ATO provides us with your eligible amount via the ATO portal.

  • If you make this contribution as cleared funds before June 30 this year you will gain:
  1. An extra tax deduction, this reduces your tax payable.
  2. The ability to increase your super savings to create more wealth.

If these are reasons that are attractive to you and cash flow permits please take advantage of this.

This measure will also be available next year.

Please note this is separate and in addition to your current year contributions, the maximum total concessional super contribution each year is currently $25,000.

Please call if you would like to discuss this further.

Read more about this on the ATO website:


General Advice warning: the information in this article is general in nature, it is not advice specific to your needs. If you want to act upon the information in this article then you should seek advice from a qualified professional. VJC WM accepts no liability to any party for acting from this information unless they have sought advice in a formal engagement with VJC WM for this purpose.