What is a catch-up contribution?

Super contribution caps used to be use it or lose it. Now you can make up contributions from past years if you didn't use all of your cap.

🤔 Am I eligible to make one?
1. If your superannuation balance was less than $500,000 on 30 June 2024 AND
2. You have 'unused concessional cap amounts' from the previous 5 years AND
3. You have used the whole of this years $30,000 cap
If you answered yes to all three questions then YES you are eligible.

❓Should I make one? Only your financial adviser can tell you that, but here are some things to consider...
- Are you in a high tax bracket?
- Have you made a capital gain this financial year?
- Do you like tax deductions?
- Is your balance nearing $500,000 and this could be your last opportunity?
- Do you like growing your assets?
- Can you say goodbye to this money until you retire?