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WangChung

19,118 Posts.

266

29/05/25

20:35

Post #: 79242774
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Originally posted by 1stPrize ↑

A fair way would be to impose a total balance cap. Once you have reached that cap, you can’t add anything more to super. Could be a $3m cap, or something even a little lower.

apologies if i have misread your efforts and those of scott, but there already exists a cap at $2M (the general transfer balance cap for 2025-26).

if u hit this cap then your non-concessional contributions cap is already ZERO...... that, in basic terms, means u cannot add any more money into super from ur back pocket if u have $2M in ur super fund..... that is if u are allowed to actually add any money into super at all due to current rules that already exist depending upon ur fund state.

part of me thinks there is not enough understanding of how current superannuation works and the limits that currently exist that prevent squillions from going into super under the current rules (and therefore what has allowed the few people that have over $3M to actually have that much $ in super).

a lotta rubbish getting spoken here,

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What about concessional contributions?

What about ongoing super guarantee payments?
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