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Learn what carry-forward unused concessional contributions are and how to optimise your contribution strategy each financial year.
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⏱ Timestamps
00:00 - Carry Forward Unused Concessional Contributions
01:26 - How Unused Contributions Work
02:31 - When Should You Use Unused Contributions
02:54 - Are You Eligible To Use Unused Contributions?
03:57 - Are You Comfortable Unused Contributions?
04:37 - Optimising Your Unused Contributions
06:51 - When You Shouldn’t Use Unused Contributions
07:35 - Case Study Example: How To Use Unused Contributions
13:18 - Things To Be Mindful Of
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Carry-Forward Unused Concessional Contributions Can Save You Thousands
Unused concessional contributions are arguably the most underutilised tax-effective superannuation strategy for people with superannuation balances below $500,000.
Each year, your unused concessional contributions from previous years are carried forward for up to five financial years.
By contributing some or all of your unused amounts to super via salary sacrifice or personal concessional contributions, you can bring your personal income tax down to $0 - saving you tens-of-thousands of dollars each financial year.
In this video, I’m going to explain how unused contributions work, when you should and shouldn’t use them, how to find out your unused amounts and how you can calculate the precise amount you should be using each year.
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