Fund members are able to carry forward unused concessional contributions cap space amounts from 1 July 2018.
The first year in which you can increase your concessional contributions cap by the amount of unused cap is 2019–20, but only if you have a total superannuation balance of less than $500,000 at the end of 30 June in the previous year.
Planned software updates
|The Contribution Dashboard has been updated to take into account the unused concessional cap carry forward.|
Contribution Breakdown Report
|The Contribution Breakdown Report has been updated to take into account the unused concessional cap carry forward.|
|Updates have been planned for a future release to enable information through API|
|Analytical Insights / Fund Workflow||Updates have been planned to update Analytical Insights.|
Note that when entering PY & External Contributions, they will be calculated based on the Service Period Start Date. If the Service Period Start Date is not entered, the system will use the members accumulation account Start Date.