|
General Transfer Balance Cap
|
Deferred Benefit Income Cap
|
| 2023-2024 |
$1,900,000 |
$118,750 |
2022-2023
|
$1,700,000 |
$106,250 |
|
2021-2022
|
$1,700,000
|
$106,250
|
|
2020-2021
|
$1,600,000
|
$100,000
|
|
2019-2020
|
$1,600,000
|
$100,000
|
|
2018-2019
|
$1,600,000
|
$100,000
|
|
2017-2018
|
$1,600,000
|
$100,000
|
The Deferred Benefit Income Cap is 1/16th of the General Transfer Balance Cap.
NB!
The General Transfer Balance Cap may not be your Personal Transfer Balance Cap for superannuation income stream (pension) purposes, if you used any of it previously.
Link between General Transfer Balance Cap and Non-Concessional Contributions
If your "Total Super Balance" is below the " General Transfer Balance Cap" at 30 June of the previous financial year, you will be eligible for the annual non-concessional contribution caps, subject to the age and work test conditions.
In other words, if your "Total Super Balance" exceeds the "General Transfer Balance Cap" at 30 June of the previous financial year, you will NOT be eligible to make any non-concessional contributions at all.
This restriction does not apply to certain special contribution concessions such as the downsizer contributions, SBE CGT contributions, Government Co-Contributions and certain permanent disablement settlements.