(15/02/2019) Individuals with a total superannuation balance below $500,000 are now able to “carry forward” their unused concessional contributions (CC) cap space over five years to catch up on contributions when they have the capacity to do so. Usually, an individual’s CCs, eg superannuation guarantee contributions, are capped at $25,000 per financial year, and exceeding the cap will generally attract a tax penalty. The 2018–2019 financial year is the first year in which individuals can accumulate and carry forward unused cap space. If you have fluctuating income and would like to explore the possibility of utilising unused CC cap space in future years, talk to us today.