What Happens if You Exceed Your Concessional Super Contributions Cap of 25,000?

If you exceed your concessional contributions cap, it means any excess amount is included in your assessable income. And this amount is then taxed as per your usual marginal tax rate. You will get a 15% tax offset, which is already paid as part of your contributions tax,. It can be draw up to 85% of your excess contributions to help pay for this extra tax. The ATO talks to all the superannuation funds so you can't hide that money even in your SMSF.