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So How Much Can you Contribute to Superannuation Using the Bring Forward Rule

Discussion in 'Superannuation, SMSF & Personal Insurance' started by SMSFMAN, 22nd Sep, 2016.

  1. SMSFMAN

    SMSFMAN SMSF Specialist Advisor™

    Joined:
    11th May, 2009
    Posts:
    8
    Location:
    Castle Hill, NSW
    Just helping clear up some of the confusion.

    If under 65 and have not triggered the bring forward in the last 2 years then you can make a contribution of up to $540,000 this year before 30 June 2017. The table below covers all other situations

    [​IMG]

    From 1 July 2017 another rule also applies that affects NCC contributions. Individuals are unable to make further NCCs where their total superannuation balance is $1.6 million or more (tested at 30 June of previous financial year). Where an individual’s balance is close to $1.6 million, they can only make a contribution or use the bring forward to take their balance to $1.6 million but not beyond.

    Superannuation Balance Contribution and bring forward available
    Less than $1,300,000 3 years $300,000
    $1,300,000 – $1,400.000 3 years $300,000
    $1,400,000 – $1,500.000 2 years $200,000
    $1,500,000 – $1,600.000 1 years $100,000
    $1,600,000+ NIL

    Full details

    So How Much Can I Contribute to my SMSF Using the Bring Forward Rule
     
  2. austing

    austing Well-Known Member

    Joined:
    5th Jun, 2006
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    Location:
    north maleny
    twisted strategies likes this.
  3. SMSFMAN

    SMSFMAN SMSF Specialist Advisor™

    Joined:
    11th May, 2009
    Posts:
    8
    Location:
    Castle Hill, NSW
    Happy to spread education/strategy based ideas.
     
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  4. austing

    austing Well-Known Member

    Joined:
    5th Jun, 2006
    Posts:
    386
    Location:
    north maleny
    @SMSFMAN,

    So based on your information and this from Daniel Butler it appears that SMSF members "after they've commence a pension with the MAXIMUM $1.6 Mil" can top up their pension balance if it falls below $1.6 Mil?

    Navigating the government’s revised contribution proposals

    Thanks in advance.
     
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