As we approach 30 June 2026, now is an excellent time to review your superannuation position and ensure you have taken advantage of any available contribution opportunities before the end of the financial year.
For many individuals, making additional superannuation contributions before 30 June can provide significant tax benefits while boosting retirement savings.
Concessional Contributions
Concessional contributions are generally contributions made to superannuation from pre-tax income. These include:
- Employer Superannuation Guarantee (SG) contributions
- Salary sacrifice contributions
- Personal deductible superannuation contributions
For the 2025–26 financial year, the concessional contribution cap is $30,000 per person.
Importantly, this cap applies to the total of all concessional contributions from all sources.
Many individuals overlook the employer contributions already made on their behalf throughout the year and unintentionally exceed the cap.
Before making any additional deductible contribution, it is important to determine how much of your concessional cap has already been utilised.
Catch-Up Concessional Contributions
Individuals may also be entitled to make additional concessional contributions under the five-year catch-up contribution rules.
Broadly, if your total superannuation balance was less than $500,000 at the previous 30 June and you have unused concessional contribution cap amounts from the previous five financial years, you may be able to contribute more than the standard annual cap.
These rules can create substantial tax planning opportunities, particularly where:
- Taxable income is higher than usual;
- A capital gain has been realised;
- A business has been sold; or
- Additional tax deductions are desirable before year-end.
Unused concessional cap amounts from earlier years may expire if not utilised, so it is worthwhile reviewing your position before 30 June.
Non-Concessional Contributions
Non-concessional contributions are generally contributions made from after-tax money for which no tax deduction is claimed.
For the 2025–26 financial year, the standard non-concessional contribution cap is $120,000 per person.
These contributions can be an effective way to build retirement savings where personal cash reserves are available.
Bring-Forward Rule
Depending on your age and total superannuation balance, you may be eligible to access the bring-forward rule, allowing you to contribute up to three years’ worth of non-concessional contributions in advance.
This may permit contributions of up to $360,000 in a single financial year, subject to eligibility requirements and total superannuation balance thresholds.
The bring-forward provisions can be particularly useful where individuals:
- Have received an inheritance;
- Have sold investments or property;
- Are restructuring personal wealth; or
- Simply wish to move more capital into the concessional tax environment of superannuation.
Don’t Leave It Until the Last Minute
Remember that contributions generally need to be received by your superannuation fund before 30 June 2026 to count for the current financial year.
Banks, clearing houses, and superannuation funds can experience delays during June, so early action is strongly recommended.
How We Can Help
The final weeks of the financial year often present valuable superannuation planning opportunities. Every person’s circumstances are different, and contribution strategies should be tailored to your individual objectives, tax position, and superannuation balance.
We encourage you to review your contribution history now and contact your Quantiphy accountant if you would like assistance determining:
- How much concessional cap remains available;
- Whether you have unused catch-up contribution entitlements;
- Your eligibility for non-concessional contributions;
- Whether the bring-forward provisions are available; and
- The most tax-effective contribution strategy before 30 June.
If you would like to discuss your options, please contact our office as soon as possible so that any contributions can be implemented before financial year-end.
Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a tax or financial product. It does not take into consideration your personal situation and may not be relevant to your circumstances. Before taking any action, consider your own particular circumstances and seek professional advice.
