ATO – What attracts our audit attention
To help you taxpayers get things right, you should consider the behaviours, characteristics and tax issues t
On 15 September 2016, the Government announced that this measure will commence from 1 July 2018.
Individuals with superannuation balances of $500,000 or less will be allowed to access their unused concessional cap space to make additional concessional (before-tax) contributions.
Individuals will be able to access their unused concessional contributions cap space on a rolling basis for a period of 5 years. Amounts carried forward that have not been used after 5 years will expire.
Only unused amounts accrued from 1 July 2017 can be carried forward.