Super caps
Track a client's super contributions against the caps, with carry-forward, bring-forward, Division 293 and the notice of intent for a personal deduction.
The super caps are the yearly limits on what a person can put into super at concessional rates. Concessional contributions are before-tax (employer, salary sacrifice, personal deductible). Non-concessional are after-tax. Going over a cap costs extra tax. It only shows for clients who are people.
How do I record a year's contributions?
- Open the client and go to TaxSuper caps.
- Pick the Financial year and choose the add button for that year.
- Enter the totals across all their funds: Concessional and Non-concessional.
- Enter the Total super balance at the previous 30 June.
- If they started a non-concessional bring-forward, pick the year it Started in and the Period.
- Choose Save.
Saving the same year again replaces its figures. To fix a year later, use the pencil on its row in Contribution history, or the bin to delete it.
Take the figures from the ATO's super contribution caps statement or the fund statements. Record earlier years too, so carry-forward and bring-forward work out properly.
What do the tiles tell me?
- Concessional room left: what they can still add before-tax this year.
- Carry-forward available: unused cap from earlier years, used oldest first, if their total super balance at the previous 30 June was under the limit shown.
- Non-concessional room: what's left after-tax, including any bring-forward.
- Division 293 estimate: the extra tax on contributions for higher earners, worked out from their individual return for the year. It's an estimate only and isn't added to the return.
Under the tiles, Unused concessional cap lists each year's leftover cap and when it expires.
How is the room worked out?
- The caps for each year come from the rule book. If the ATO hasn't published a year's caps yet, Billbook uses the latest ones and says so.
- Carry-forward adds up unused concessional cap from recent years. Years with nothing recorded count as fully unused, so record every year you know.
- Non-concessional room depends on the total super balance and the client's age, which comes from their date of birth on ClientDetails. A bring-forward still running from an earlier year sets this year's room.
How do I handle a personal super deduction?
- Under Personal super deduction, enter the Personal contributions to deduct.
- Record when the Notice lodged and Fund acknowledged dates are, and the Amount on the notice.
The client can't claim the deduction until their fund acknowledges the notice of intent. The Notice of intent badge shows Notice needed, Awaiting acknowledgement or Notice too small until it's Acknowledged. The return's pre-lodgement review holds the return while the notice is missing.
Next
Review, lodge and record a tax return
Run the pre-lodgement review, clear what's missing, record the return as lodged and attach the notice of assessment.
The rule book (rates and rules by year)
See every rate and rule Billbook uses to work out a return, by financial year, with its government source and whether it's confirmed.
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