Excess Super Contributions

I'm in new territory and looking for some tips.

I run an SMSF and on 30 June 2016 I was 48 years of age. I am an employee and historically my salary was such that my employer's compulsory super contributions never exceeded the concessional contributions cap--I would then normally salary sacrifice the difference to get me to the concessional cap level. However, I have recently taken a new job that has given me a considerable pay rise. The problem I now have is that as a consequence of my pay rise my employer's compulsory super contributions for FY16/17 and beyond will well and truly exceed the concession contributions cap.

I am interested to know whether there are any strategies that I might consider to give me a better tax position in relation to my employer contributions that exceed the concessional cap?

Thanks all.

 

This might be useful:
Reserving Strategy - Double Your Contributions and Save Tax? - Redwood Advisory SMSF

Managing contributions before the bell rings on 1 July 2017

Remember that the CC cap is $25k from 1 July.

 

Thanks @austing. The reserving strategy is very interesting, but not sure it will give me a longer term solution that is sustainable. My issue is that I am a typically employee and will be receiving monthly compulsory super payments totalling about $40k per FY. Bringing forward some or all of the following year's concessional cap under reserving will only give me a few years of tax relief by increasing my concessional contributions before I face a somewhat compounded problem a few years later. By my approximate calculation I would get two years benefit before I am down to a zero concessional cap and then in a cycle of always bringing forward the following year's 25k cap. Reserving might be good where your contributions are up and down from year to year, but suspect may be of limited benefit in my position where I can a predicable 40k contribution from year to year.

 

Maximum Superannuation Contribution Base | Super Guy

 

@austing that link on the contribution base was very interesting. Thanks. I will definitely seek professional advice on this.