Your Total Super Balance (TSB) at 30 June is more than just a snapshot of your retirement savings — it can directly impact what super strategies become available next financial year.
TSB influences:
- Non-concessional contribution caps
- Bring-forward eligibility
- Carry-forward concessional contributions
- Government co-contributions
- Spouse contribution tax offsets
For example, individuals with a TSB under $500,000 may access unused concessional cap carry-forward opportunities, while higher balances may restrict access.
This means additional super contributions before 30 June can sometimes unintentionally push your balance above important thresholds.
Strategic TSB Management May Include:
- Contribution splitting with a spouse
- Pension withdrawals
- Withdrawal and re-contribution strategies
- SMSF reporting adjustments
Careful timing can preserve eligibility for future tax benefits while maximising flexibility. However, anti-avoidance provisions may apply where strategies are used solely for tax advantages, so professional guidance is essential.
Key EOFY Question:
Could contributing now reduce your options later?
Speak With Our Team
Your Total Super Balance can affect contribution caps, tax concessions, and eligibility for future super strategies. Careful planning before 30 June may help preserve important opportunities for the next financial year.
If you are considering additional contributions or reviewing your super position, contact us to discuss your circumstances and available options before EOFY.
Disclaimer and Warning
The information above is of a general nature only. It should not be used as a source to make financial decisions. It’s also important to note that the legislation and figures related to this topic tend to change regularly and therefore the information above may not reflect the current status. We recommend that if you are looking for advice on this matter, you should contact us.