Issue

This article provides an example in answer to the question of the Contribution Reserve and Request to Adjust Concessional Contribution (from 2015 FY onwards). Please read the background article first before proceeding.

Illustrative Example

Andrew Smith age 36 has made monthly employer contribution of $2,500 each month ($2,500 x 12 = 30,000)  and personal concessional contribution of $30,000 on 25/06/2015 to The Smith Family Super Fund. He intended to allocate the $30,000 to the following FY.

Contribution reserving/Unallocated Contribution Reporting

Year 1: SMSF Annual Return > Section F Member Section: 

Year 2: SMSF Annual Return > Section F Member Section:

There is no SAR reporting required for year 2.

Year 1: SMSF Annual Return > Section H: Assets Liabilities

There will be no reserve accounts at all, and other assets will be less as prepaid contribution tax will not be reported here.

Request to adjust concessional contribution form

Member Statements / Contribution Cap Financial Statement Reporting: No changes 

 What's next?

Refer to KB article Contribution Reserve and Request to Adjust Concessional Contribution (from 2015 FY onwards) for more information.