Carry forward super contributions to save for the future and reduce your tax liability

By Rhiannon Veness
Updated June 20 2022 - 11:55pm, first published May 30 2022 - 11:55pm
DEDUCTION: Making additional concessional contributions to superannuation can help reduce your tax liability, but only to a point. Photo: Shutterstock

One way to potentially reduce your tax bill is to take advantage of the carry-forward rules for concessional superannuation contributions. Introduced in the 2019-20 financial year, this rule allows you to make additional concessional contributions or pre-tax payments above the $27,500 limit towards your super.