From 1 July 2018 if you have a total superannuation balance of less than $500,000 on 30 June of the previous financial year, you may be entitled to contribute more than the general concessional contributions cap and make additional concessional contributions for any unused amounts.

2019-20 is the first year you are entitled to use carried forward unused amounts. Unused amounts are available for a maximum of five years, and after this period will expire.

For example, if you had concessional contributions of $3,000 in 2018-19, your unused concessional amount carried forward to 2019-20 is $22,000. Your general concessional contributions cap in 2019-20 is $25,000, allowing a maximum concessional contribution in 2019-20 of $47,000.