Bring-forward of non-concessional contributions - first year is 2015/16

In this situation two years of the bring-forward period occur before 1 July 2017 and only one year of the bring-forward period occurs after 1 July 2017.

The maximum bring-forward amount is a composite of the pre 1 July 2017 and post 1 July 2017 non-concessional caps.  Consequently the maximum bring-forward will be $460,000 (ie two years at $180,000 each and one year at $100,000).  

However, the following points should be noted:

• if the total superannuation balance (immediately at the start of 2017/18) exceeds $1.6m, then no non-concessional contributions can be made in respect of 2017/18 - even if the bring-forward amount has not been exhausted;
• if the total superannuation balance (immediately at the start of 2017/18) is $1.5m or more but less than $1.6m – then the maximum non-concessional contribution which can be made in respect of 2017/18 is $100,000 or the unused portion (if any) of the bring-forward amount (whichever is the lesser);
• if the total superannuation balance (immediately at the start of 2017/18 is less than $1.5m – then the maximum non-concessional contribution which can be made in respect of 2017/18 is $200,000 or the unused portion (if any) of the bring-forward amount (whichever is the lesser).

Very importantly, the member can contribute during the 2016/17 financial year, non-concessional contributions of up to $540,000 less the amount of non-concessional contributions made during the 2015/16 financial year.  This is an exception to the above rules and this exception will cease to apply on and from 1 July 2017.  The exception arises because the current non-concessional contributions rules apply until 1 July 2017.

If the member has contributed non-concessional contributions in respect of 2015/16 and 2016/17 which exceed $480,000, the member will not be permitted to make any non-concessional contributions in respect of 2017/18 as the member will have exhausted their bring-forward cap.