This is a limit applied to after-tax (or non-concessional) contributions to your super account (these include personal after-tax contributions and spouse contributions).
For the 2023-24 financial year, you can generally make up to $110,000 in non-concessional contributions to your super. If you have more than one super account, this total is across all of your accounts combined. If eligible, the ‘bring forward’ provisions allow you to contribute up to $330,000 over three years.
Note that your total super balance needs to be less than $1.9 million (for the 2023-24 financial year) to qualify for the cap – if it’s over that amount, the cap is effectively zero, and any non-concessional contributions you make will be considered to be excess contributions.
If you go over the cap
If you go over this amount, additional tax of up to 47% may apply to these contributions. But first the ATO will let you know if you’ve gone over the cap and will provide options available to you.
To find out more
Visit the ATO website to find out more about non-concessional contributions cap, how it’s applied, and what you can do if you go over the cap.