Super Topics

What’s included in total superannuation balance?

A member’s total superannuation balance, measured at 30 June each year, is calculated as:

Total super balance component
The sum of the total superannuation balance values of each of the member’s superannuation interests, including death benefit income stream interests but excluding interests in foreign super funds, PLUS
The value of any rollover superannuation benefits: the amount of any superannuation benefits not reflected in the total superannuation balance value of any of the member’s interests as they have been rolled over and are in transit between funds, PLUS
The value of any outstanding limited recourse borrowing arrangement (LRBA) amounts where certain conditions are met (only applies to some SMSF/Small APRA Fund members – note this value is not included for Division 296 tax calculation purposes), LESS
The sum of any structured settlement contributions.

For further information about the above components of total super balance, including important changes from the 30 June 2027 valuation onwards, see section 5 of the FirstTech Super guide.

What does the total superannuation balance impact?

Super measures impacted by total superannuation balance
Non-concessional contributions	Total superannuation balance must be less than $2.1 million at 30 June in previous financial year, otherwise non-concessional contributions cap for following financial year will be nil
Bring-forward rule	Total superannuation balance must be less than $1.84 million at 30 June in previous financial year, otherwise amount that can be contributed under bring-forward provision is reduced
Concessional contributions	Total superannuation balance must be less than $500,000 at 30 June in previous financial year to be able to use carried forward concessional contributions
Division 296 tax	Where a member’s total superannuation balance (greater of either just prior to the start, or end of a financial year ) is more than $3 million, they are subject to 15% Division 296 tax on their superannuation earnings attributable to the part of that total superannuation balance that is over $3 million. Where a member’s total superannuation balance above is more than $10 million, they are subject to a further 10% Division 296 tax on their superannuation earnings attributable to the part of that total superannuation balance that is over $10 million. See the FirstTech Super guide for more detail on Division 296 tax. Note: A transitional rule applies for 2026–27 where only the balance at 30 June 2027 is used.
Government co-contribution	Total superannuation balance must be less than $2.1 million at 30 June in the previous financial year to be eligible for Government co-contribution
Spouse contribution tax offset	Receiving spouse's total superannuation balance must be less than $2.1 million at 30 June in previous financial year for contributing spouse to be eligible for a tax offset for spouse contributions
SMSFs	SMSFs are prohibited from using the segregated method to determine exempt current pension income during a financial year where: at least one member has a retirement phase income stream at any time during the financial year, and at 30 June of previous financial year, a member has a total superannuation balance of more than $1.6 million and is receiving a retirement phase income stream (from any fund). However, this rule does not apply if all of the fund’s assets would otherwise be segregated current pension assets at all times during the year.
Work test exemption	Total superannuation balance must be less than $300,000 at 30 June in previous financial year to potentially use the work test exemption for eligibility to claim a tax deduction for personal super contributions made at age 67 - 74.

Super measures impacted by total superannuation balance

Non-concessional contributions

Total superannuation balance must be less than $2.1 million at 30 June in previous financial year, otherwise non-concessional contributions cap for following financial year will be nil

Bring-forward rule

Total superannuation balance must be less than $1.84 million at 30 June in previous financial year, otherwise amount that can be contributed under bring-forward provision is reduced

Concessional contributions

Total superannuation balance must be less than $500,000 at 30 June in previous financial year to be able to use carried forward concessional contributions

Division 296 tax

Where a member’s total superannuation balance (greater of either just prior to the start, or end of a financial year *) is more than $3 million, they are subject to 15% Division 296 tax on their superannuation earnings attributable to the part of that total superannuation balance that is over $3 million.

Where a member’s total superannuation balance above is more than $10 million, they are subject to a further 10% Division 296 tax on their superannuation earnings attributable to the part of that total superannuation balance that is over $10 million.

See the FirstTech Super guide for more detail on Division 296 tax.

* Note: A transitional rule applies for 2026–27 where only the balance at 30 June 2027 is used.

Government co-contribution

Total superannuation balance must be less than $2.1 million at 30 June in the previous financial year to be eligible for Government co-contribution

Spouse contribution tax offset

Receiving spouse's total superannuation balance must be less than $2.1 million at 30 June in previous financial year for contributing spouse to be eligible for a tax offset for spouse contributions

SMSFs

SMSFs are prohibited from using the segregated method to determine exempt current pension income during a financial year where:

at least one member has a retirement phase income stream at any time during the financial year, and
at 30 June of previous financial year, a member has a total superannuation balance of more than $1.6 million and is receiving a retirement phase income stream (from any fund).

However, this rule does not apply if all of the fund’s assets would otherwise be segregated current pension assets at all times during the year.

Work test exemption

Total superannuation balance must be less than $300,000 at 30 June in previous financial year to potentially use the work test exemption for eligibility to claim a tax deduction for personal super contributions made at age 67 - 74.

For more information, see the FirstTech Super guide.