Financial Planner Luke Smith joined 2CC Talking Canberra in Money Matters, which aired live on Friday 23 January 2026. Luke is joined by Leon Delaney to talk about a specific aspect of super that is poorly understood by most. The topic for this week is: What is the Total Super Balance (TSB)? Luke takes a deep dive into this topic, what it is and how it impacts your retirement planning.
Thank you for joining us live on 2CC, YouTube, Spotify or your favourite podcast streaming service for ‘The Strategy Stacker – Luke Talks Money’.
Key topics covered include:
- In past show’s we’ve talked about how much money you can put into super.
- You can put in $120,000 tax free as a non-concessional contribution or 3 times that amount.
- This is a great opportunity to boost super if you’ve inherited some money, sold an asset or want to boost a partner’s super balance before retirement
- But there is a limit on how much you can put into super using concessional contributions; that’s the role of the TSB.
- The total super balance is now $2 million.
- This means once you reach that amount, you’re not longer eligible to make non-concessional contributions to super.
- Therefore, you need to check your balance to see if you’re eligible to contribute using non-concessional rules. Many people fail to check.
- You can however still make a concessional contribution to super, even if you’ve reached $2 million.
- Total Super Balance is not the same as Transfer Balance Cap – the two terms are often confused. Total Super Balance determines your eligibility to make concessional contributions to super, while the transfer balance cap determines what tax, if any you might pay on your super.
- What strategies can people consider if they’re close to the $2 million total super balance?
- Couples should make use of the rules, to ensure both make the most of their individual TSB amounts.
- Making concessional contributions is important for estate planning too, especially for adult children who benefit from your super or pension.
- Those with defined benefit funds should also be aware the TSB rules apply to them; defined benefit funds are not exempt and have an amount recorded against them for the total super balance. Check with your fund to find out yours or in your Mygov account.
- If you’re going to hold money outside of super, consider a family trust alongside your super or pension income.
- Luke shares his tips to help you understand the TSB and make the most of your concessional contributions.
Our podcast is also available on Apple Podcasts, Spotify and YouTube – ‘The Strategy Stacker – Luke Talks Money’
Do you need help to work out your Total Super Balance or start retirement planning?
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including investment, super and retirement (including transition to retirement). Simply make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us form to make an appointment, for a confidential discussion about your own goals and situation.
Luke will return to 2CC to talk about other ‘Money Matters’ next week, we hope you can join us. You can also catch up with ‘The Strategy Stacker – Luke Talks Money’ podcast at a time that suits you.
We look forward to your company again. Luke’s book Smart Money Strategy is out now. 
