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Paying too much tax? 5 moves to check
Short answer
Five moves to check for 2026-27: use your super cap ($32,500 concessional cap for 2026-27, $30,000 for 2025-26); carry forward unused cap from up to 5 previous years if your balance is under $500,000; contribute early because a contribution counts when your fund receives it; know that a $1,000 standard deduction is applied automatically from 2026-27 if you are eligible, reduced by work expenses you claim; and pay the ATO on time because GIC and SIC interest is not deductible from 1 July 2025.
Last reviewed: 25 October 2026. General information only - not personal advice. Tax7 prices are ex GST.
Full text of the video
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- 2026-27Paying too much tax? 5 moves to check
- 1. Use Your Super Cap$32,500concessional cap 2026-272025-26 cap: $30,000
- 2. Carry ForwardBalance under $500k?Use unused cap from up to 5 previous years
- 3. TIMINGContribute earlyIt counts when your fund receives it
- 4. New From 2026-27$1,000 standard deductionApplied automatically if you're eligibleReduced by work expenses you claim
- 5. Pay The ATO On TimeInterest charges aren't deductibleGIC and SIC from 1 July 2025
Sources
- ATO - Standard deduction for work-related expenses
From the 2026-27 income year, eligible taxpayers are entitled to a standard deduction (also referred to as the 'instant tax deduction') of up to $1,000 for work-related expenses, without needing to have spent the money or kept records.
we'll automatically apply it to your tax return from the 2026-27 income year onwards based on the information in your return.
is reduced by any work-related expenses you claim in your tax return that are covered by the standard deduction.
- ATO - Concessional contributions cap
From 1 July 2026, the concessional contributions cap is $32,500.
From 1 July 2024 to 30 June 2026, the concessional contributions cap was $30,000.
a total super balance of less than $500,000 at 30 June of the previous financial year
unused concessional contributions cap amounts from up to 5 previous years.
Contributions count towards a cap in the year your super fund receives them.
- ATO - Contributions caps (key super rates and thresholds)
1 July 2024 to 30 June 2026, the general concessional contributions cap was $30,000.
2026-27 n/a All ages $32,500
2025-26 n/a All ages $30,000
- ATO - Cost of managing tax affairs
ATO Interest charges - General Interest Charge (GIC) and Shortfall Interest Charge (SIC) incurred on or after 1 July 2025 can't be claimed as a deduction.
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