Super Topics

What’s included in total superannuation balance?

Total superannuation balance is measured at 30 June of the previous financial year. Total superannuation balance is the total of all the components outlined in the table below.

Total super balance component	30 June value of:
Accumulation phase value at 30 June	Any superannuation interest that is not in the ’retirement phase' is in the accumulation phase. Examples of accumulation phase value include: accumulation account balances accruing defined benefit interests with a withdrawal value transition to retirement income stream account balances (where the member is under age 65 and has not notified the trustee of meeting a condition of release) If the member does not have a transfer balance account, the accumulation phase value is reduced by any structured settlement contributions.
Adjusted retirement phase value at 30 June	The 30 June adjusted retirement phase value is the 30 June balance of the transfer balance account adjusted to: reflect the 30 June account balance of account based pensions (see FirstTech Super guide) and exclude any structured settlement contributions.
In transit rollovers at 30 June	Amount of any rollover superannuation benefit not reflected in the accumulation phase or transfer balance account (i.e. rollovers in transit at 30 June).
Certain outstanding LRBA amounts	A member’s share of any outstanding loan balance under a limited recourse borrowing arrangement (LRBA), where: the fund is an SMSF or SAF, and the loan arose under a contract entered into on or after 1 July 2018, and either the member has satisfied any of the following eligible conditions of release: retirement terminal medical condition permanent incapacity, or reaching age 65; or the LRBA lender is an associate of the fund. For more information please see the FirstTech SMSF Guide.

Total super balance component

30 June value of:

Accumulation phase value at 30 June

Any superannuation interest that is not in the ’retirement phase' is in the accumulation phase.

Examples of accumulation phase value include:

accumulation account balances
accruing defined benefit interests with a withdrawal value
transition to retirement income stream account balances
(where the member is under age 65 and has not notified the trustee of meeting a condition of release)

If the member does not have a transfer balance account, the accumulation phase value is reduced by any structured settlement contributions.

Adjusted retirement phase value at 30 June

The 30 June adjusted retirement phase value is the 30
June balance of the transfer balance account adjusted to:

reflect the 30 June account balance of account based pensions (see FirstTech Super guide) and
exclude any structured settlement contributions.

In transit rollovers at 30 June

Amount of any rollover superannuation benefit not reflected in the accumulation phase or transfer balance account (i.e. rollovers in transit at 30 June).

Certain outstanding LRBA amounts

A member’s share of any outstanding loan balance under a limited recourse borrowing arrangement (LRBA), where:

the fund is an SMSF or SAF, and
the loan arose under a contract entered into on or after 1 July 2018, and either

the member has satisfied any of the following eligible conditions of release:
- retirement
- terminal medical condition
- permanent incapacity, or
- reaching age 65; or
the LRBA lender is an associate of the fund.

For more information please see the FirstTech SMSF Guide.

For more information, see the FirstTech Super guide.

Please note, the calculation of total superannuation balance is proposed to change from 30 June 2025. However, at the time of writing the Bill to implement this change had not yet been introduced into parliament. Please see the FirstTech Super guide for more information.

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 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 $1.76 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
Government co-contribution	Total superannuation balance must be less than $2 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 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 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 $1.76 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

Government co-contribution

Total superannuation balance must be less than $2 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 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.

Note: A member’s total superannuation balance may also be used to determine a person’s liability to the proposed Division 296 tax. However, at the time of writing the Bill to impose this tax had yet to be introduced into parliament. Please see the FirstTech Super guide for more information.