How does Carry-forward Concessional Contribution Work?
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- Опубликовано: 20 июл 2024
- In this video, I'll be talking about boosting your super: how do carry-forward (catch-up) concessional contributions work. Carry-forward contribution can help you make the most of your earnings and tax advantages, even if you think you've missed your chance.
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Chapters
00:00 Intro
00:32 What are carry-forward contributions
01:57 Who can use carry-forward contributions
02:56 Who should consider using carry-forward contributions
03:50 How does it work
04:44 Pros and Cons
06:57 Step-by-step how to use it? 
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Just discovered your channel yesterday. Your videos are succinct and clear. Under rated channel that definitely should have more subscribers. Thanks for sharing your knowledge.
Thank you 🙏
Thank you for making such great Aust information.
Hi Irene, thanks for another great video. I’ve commented previously, and I’m about to move to Thailand. I’m about to utilise the downsizer contribution , and about to max out my bring forward contribution as well. After watching the carry forward video, I hope to utilise this as well, but I’m a bit confused as it’s not as straightforward as the other two. I’m still working on it, and hope to get my head around it soon as it could save me about 10 k. Wish me luck. Rob..
Hi Rob, if you are eligible to carry forward the unused concessions contributions cap, you can turn the current FY's after-tax contributions to concessional. Good Luck, and enjoy your retirement in Thailand!
It is too late for me. Can't pass beyond point 1 alone.
Hey Irene I’ve contributed more to my super throughout the year by salary sacrificing extra over the $27500. On my hostplus app it tells me that I’ve contributed 120% to this year contributions cap. Do the extra contributions get automatically added to previous years or do I need to fill in a intent to claim form? Thankyou.
Hi James, since you're already making concessional contributions and the current year's cap has been reached, unused concessional cap amounts are applied automatically if you are eligible (1. total super balance is < $500,000 at 30 June 2023. 2. have unused cap amounts from up to 5 previous years)
@@IreneZhuthanks Irene