Carry-forward Concessional Contributions
SMSF members will be able to carry forward their unused concessional contributions cap amounts from 1 July 2018. The first year in which they can increase their concessional contributions cap by the amount of unused cap is the 2019-20 financial year, but only if they have a total superannuation balance (see below for further details) of less than $500,000 at the end of 30 June in the previous year. Unused amounts are available for a maximum of five years, and will expire after this.
Therefore, 2019/20 financial year will be the first year in which you can access unused concessional contributions.
Should you have any question in regards to this, please contact Gavin Ma & Co at 03 9557 3138 or email@example.com