The Contributions Cap screen in Class allows Class administrators to edit and track members contribution caps and total superannuation balance (TSB) within the application.

Navigate to Fund Level > Members > Contribution Caps

This page consists of a tab for each member of the fund. The example below shows the fund as a whole for the 2017/18 financial year, with two member accounts.

1. Select the Financial Year & click 'Select'
2. Select the Member
3. Select the Financial Year for financial year's contribution caps will display
4. Cumulative Available Unused Cap will display if applicable
5. Contributions made (to this fund) will display if applicable
6. Enter any applicable Contributions made (to other funds) 
7. Contributions, as allocated, will display
8. Any amounts above the caps will display
9. Available Total will display
   
   
   

From 1 July 2018, the member of the super fund will be able to make 'carry-forward' concessional super contributions if the member has a Total Superannuation Balance less than $500,000 as at 30 June 2018. You will be able to access your unused concessional contributions cap space on a rolling basis for five years. Amounts carried forward that have not been used after five years will expire. 

Total Super Balance

The 'total superannuation balance' (TSB) commenced from the end of 30 June 2017 and is a way to value individuals' total super interests on a given date. It is important to keep track of the member's total superannuation balance as at 30 June from all sources. The TSB section will become visible when 2017-18 or a later financial year is selected.

1. Enter only as a positive figure under the External field if applicable
2. Enter only as a positive figure under the External field if applicable
3. Enter as either a positive or negative figure under the Adjustment field if applicable (An example of positive adjustment can be Excess Transfer Balance earnings, an example of negative adjustment can be structured settlement (personal injury) contribution made to an external super fund)
   
    

If a contribution reserve strategy was implemented outside of Class before the fund was loaded, you may add unallocated contribution as "external" super balance, in order for this amount to be included for TSB purpose.

The bring-forward rule

To trigger the bring-forward rule for prior years select the relevant year from the drop-down menu and click on the appropriate radio button as shown below.

1. unknown status is the default status unless changed
2. was NOT triggered in 20##/## or 20##/##" if the member did not trigger bring forward rule
3. Select "was triggered 20xx/20xx from either previous financial years displayed if triggered in these dates
4. Enter the Total non-concessional contributions in previous years amount
   
   
   
   

Concessional Contributions

To keep track of the unused concessional contributions carry forward amounts for members of a take-on fund, record the concessional contributions reported to the ATO for the previous relevant financial years as shown below.

Do not include any excess amount that has been treated as Non-concessional contributions or refunded to the member.  

What's Next?

Check Member Console to see changes made