Recontribution of COVID early release of superannuation amounts guide V1.0.0

A final version of the Recontribution of COVID early release of superannuation amounts guide V1.0.0 is now available.

The Treasury Laws Amendment (More Flexible Superannuation) Bill 2020 containing the recontribution measure was approved by Parliament on 17 June 2021 and received royal assent on 22 June 2021.

The intent of this measure is to let individuals who accessed their super under the COVID-19 Early Release of Superannuation amounts measure (COVID ERS) to put money back into super without the contribution impacting their non concessional contribution (NCC) cap.

Individuals can only have this treatment applied (that is, to exclude the contribution from their NCC cap) where the total amount of their recontribution(s) is not more than the total of their COVID-19 early release amounts.

Recontribution of COVID amounts can be made between 1 July 2021 and 30 June 2030.

This guide is to be used in the development of software to lodge the Recontribution of COVID early release of superannuation amounts files, electronically to the Australian Taxation Office (ATO) in a Comma separated values (CSV) format.

This will assist superannuation funds or their intermediaries to lodge a file to the ATO.