Concessional Contribution and Non-Concessional Contributions Caps are changing for the 2025 financial year

SUPERANNUATION
Written By IT Admin

In the 2023-2024 financial year, the concessional contribution cap is $27,500 and the non-concessional contribution cap is $110,000.

For the financial year 2024-2025, the concessional contribution cap is increasing to $30,000 per year and the non-concessional contribution cap is $120,000. This means the bring forward non-concessional cap whereby you can make 3 years of non-concessional contributions in one year is increasing from $330,000 to $360,000.

Please contact your Bongiorno Financial Adviser to see how you can take advantage of these changes.

IT Admin
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