Excess Non-Concessional Contributions

The non-concessional contributions cap is $120,000 from 1 July 2024, however the ability to contribute to super is dependent on an individual’s Total Superannuation Balance and satisfying certain age-based criteria. The ability to bring forward non-concessional contributions over a 3-year period in some cases further complicates matters and when there is uncertainty around what an individual’s non-concessional contribution cap is, then excess non-concessional contributions can arise. This fact sheet will give a general overview of the current position on what happens when the non-concessional contributions cap is exceeded.
To read this fact sheet in its entirety download the PDF version here.

End of Financial Year Checklist

SuperGuardian are pleased to provide you an End of Financial Year Checklist to assist ticking off the crucial steps and

Valuations for Year End Reporting

It is a legal requirement that all SMSFs record and report all assets at market value. Failure to report assets

Explanatory Document – Death Benefit Nomination

Did you know that your superannuation is not part of your estate or controlled by your will, unless you direct

Enduring Power of Attorney – Death Benefit Nomination

All superannuation members should consider having in place an enduring power of attorney that empowers a trusted person or persons

Disclaimer: Any information that is financial product advice is provided by SuperGuardian Pty Ltd (AFSL No. 485643 ). The advice provided is general in nature and is not personal financial product advice. The advice provided has been prepared without taking into account your objectives, financial situation or needs and because of this you should, before acting on it, consider the appropriateness of it having regard to your objectives, financial situation and needs. You should carefully read and consider any product disclosure statement that is relevant to any financial product that has been discussed before making any decision about whether to acquire the financial product. Please refer to SuperGuardian FSG https://www.superguardian.com.au/pdfs/Financial-Services-Guide.pdf for contact information.

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