Excess concessional contributions FAQ

This FAQ relates to superannuation members who have defined contribution superannuation benefits. It does not apply to superannuation members who either have notional contributions or have defined benefit interests.

This valuable document is updated annually and covers the following topics:

1. What are Excess Concessional Contributions?
2. How is the Excess Amount determined?
3. What is the tax treatment of the excess amount?
4. What is an Excess Concessional Contributions Determination (ECC Determination)?
5. What options does a member have when an ECC Determination is issued?
6. If the member accepts the ECC Determination as being correct, what then happens?
7. What is a Release Authority?
8. How does a member request the issue of a Release Authority?
9. Once the Release Authority has been requested, what then happens?
10. Must the Release Authority be given to the trustee of the fund which has received the excess concessional contributions?
11. What does a trustee do when it receives a Release Authority?
12. In what circumstances can the trustee decline to pay the requested amount?
13. What if the trustee can only pay part of the requested amount?
14. If there has been an underpayment, what happens?
15. What happens if you make no request for a Release Authority within 60 days?
16. What are the superannuation and taxation consequences of using a Release Authority?

For further information or advice please call the SUPERCentral Help Desk on 02 8296 6266, we would be pleased to assist.