What types of contributions can a SMSF accept and who can make them?
SMSFs can accept concessional contributions and non-concessional contributions. Mandated employer contributions include: • superannuation guarantee contributions • employer contributions above SG or award obligations • superannuation guarantee shortfall components • award-related contributions • certain payments from superannuation holding accounts special account • self employed personal contributions (that a tax deduction has been claimed) • salary sacrificed contributions Concessional contributions are those that a tax deduction has been or will be claimed for those contributions. Concessional contributions can be accepted for members at any time regardless of their age and number of hours worked. Non-concessional contributions include: • superannuation guarantee contributions • employee personal contributions • self-employed personal contributions (where no tax deduction has been claimed) • other personal contributions and spouse contributions There are limits on the types of non-c
