Suite 308, 546 Collins Street, Melbourne VIC 3000
bok@bok.com.au
(03) 9664 9100

Extension of the bring-forward age up to 67

For eligible individuals who make contributions above the annual non-concessional contributions cap, the bring-forward arrangement allows them to access future years caps and make extra non-concessional contributions without having to pay extra tax.

Previously, the bring-forward measures allowed those people under the age of 65 to make non-concessional contributions at any time in any financial year up to three times the annual non-concessional contributions cap in that financial year.

The bring-forward rule has now been amended and extended to individuals under the age of 67 and became effective from 1 July 2020.

This means individuals may be able to make up to three years’ worth of non-concessional contributions in a single year, which for 2021/22 could be up to $330,000.

Acctweb

Want to know more?

Do you have a question about something you've read in this article? Need more information? Want to book an appointment? Simply let us know below and we'll get back to you ASAP.

Disclaimer

In the preparation of this website every effort has been made to provide accurate and timely information. However, errors can occur and applicable laws and regulations may change.

The information contained in the site is general and is not intended to serve as advice. No warranty is given as to the reliability of any information.

Users are encouraged to consult with professional advisers for advice before making any decisions that affect their own interests.

Bourke O’Brien Kennedy disclaims all and any liability to any person as to the consequences of anything done or omitted to be done by any person in reliance whether wholly or partially, upon any information contained in this website.

Links on this website are to resources managed by other parties over whom Bourke O’Brien Kennedy has no control. As such, Bourke O’Brien Kennedy accepts no responsibility as to the accuracy of any statement, opinion or advice contained in any of the supplied information and readers should rely on their own enquiries before making any decisions affecting their own interests.

Privacy Policy

We will only use the information you provide to us to respond to your requests and provide you with information about Bourke O’Brien Kennedy services.

Whenever you receive information from us electronically, you will always have an opportunity to request not to receive the information again and your wishes will be respected.

If you send us a curriculum vitae (CV) to apply for a position with Bourke O’Brien Kennedy, we will only use that information to consider you for available opportunities.

We do not share personal information with third parties except as necessary to carry out our business or as required by law or other processes. We do not sell personal information. All personnel with access to personal information ensure to maintain its confidentiality.

If you have questions or comments about anything to do with our website, please do not hesitate to contact us at bok@bok.com.au