Age 67 NCC Reminder

9 Dec 2021

Written by

David Busoli, Principal

Just a reminder that an individual will automatically trigger the bring forward rule from 1 July 2020 if the member exceeds their general NCC cap for the year and the

  • member is under 67 at any time in that year,
  • member is not part way through an existing bring forward period,
  • member’s TSB at the previous 30 June is less than the requisite threshold

The thresholds and the amounts that can be contributed are shown below.

2020/20212021/2022
TSB @Last 30/6NCC CapTSB @ Last 30/6NCC Cap
$1.6m or moreNil$1.7m or moreNil
$1.5m to <$1.6m$100,000$1.59m to <$1.7m$110,000
$1.4m to <$1.5m$200,000$1.48m to < $1.59m$220,000
<$1.4m$300,000<$1.48m$330,000

 

Keeping you up-to-date with what you need to know about SMSFs. Subscribe to get our updates delivered straight to your inbox.

More SMSF News

Child Pensions

A child, under the age of 18, may become a recipient of a death benefit pension from a deceased parent. It may...

read more