Well if so don’t be sad, be happy.
If you are aged 49 or more on the 30 June 2015 then you can access the higher concessional super cap of $35k in the 2015/16 year meaning you can save more tax and grow more super. So check your salary sacrifice arrangement and adjust it if required.
Remember, if you are an employee the concessional contributions are the sum of your 9.5% SGC paid by your employer and any additional salary sacrifice contributions.
Everyone (of any age) also has access to the $180k p.a. non-concessional cap on top of the concessional cap. This is money you have lying around that you can put into super, and as you have already been taxed on it at some point, there is no tax when the cash is contributed to the superfund.
Any questions please call
Lindsay 0413 952 180