Claiming a "catch up" concessional super contribution
The 2020 financial year is the first year you can make “catch up” contributions on any unused super contributions below the $25,000 concessional limit from the 2019 financial year. Essentially, the unused amount is carried forward, and added to, your $25,000 maximum concessional contribution limit for this financial year. These contributions are treated as concessional and generally able to have a tax deduction claimed. You can carry forward unused contributions for up to five consecutive years.
Find out more information within our EOFY Updates and Changes article.