What is your Total Superannuation balance?

Your Total Superannuation Balance is made up of the combined balances of all your super and retirement savings account.   As per the “ATO“, this sum is reduced by the sum of any personal injury structured settlement amounts contributed to super”.

So, if at the end of June 30 of the previous financial year your total superannuation balance was greater than or equal to $1.6 million, which is also known as the general transfer balance cap, you are not able to make any further personal contributions.  However, if your balance is less than the general transfer balance cap you would be able to make a non-concessional contributions but again your total superannuation balance would determine how much you are able to contribute.  If you are unsure of your balance and how much you are able to contribute you can use the ATO’s online services offered through myGov and if you are still unsure you can also seek out your financial adviser for some help.

The ‘bring forward” arrangement

If you are 65 years of age or under you are eligible to make non-concessional contributions that are three times the annual non-concessional contribution cap, which means you could potentially contribute up to $300,000 in one financial year.  By doing so you are gaining access to future year caps, which is what the “bring forward” arrangement is.  However it is important to keep in mind while the possibility to contribute up to $300,000 is there, the amount you are actually eligible to contribute will be dependant on your superannuation balance at the end of 30 June of the previous financial year. Below is a table from the ATO’s website that outlines 2017-18 bring forward period and eligibility.  Use the table as a guide to see what your eligibility is.

2017–18 bring-forward period

Total superannuation balance on 30 June 2017

Maximum non-concessional contributions cap for the first year

Bring-forward period

Less than $1.4 million


3 years

$1.4 million to less than $1.5 million


2 years

$1.5 million to less than $1.6 million


No bring-forward period, general non-concessional contributions cap applies

$1.6 million



LifeTime Financial Group are specialist (holding appropriate accreditations) advisors who are ideally positioned to assist you. Anthony Stedman and Adam Watts both hold specialist accreditations with SPAA as specialist Self-Managed Superannuation planners.

Would you like to discuss your personal position further with one of our highly qualified financial planners? Why not call us today on 03 9596-7733.

There is no cost or obligation for our initial conversation/meeting.

Written by Anthony Stedman of LifeTime Financial Group. A leading privately owned Melbourne based Financial Planning practice.


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