Since 2014/15, the annual non-concessional contributions cap was $180,000 (or $540,000 in a three-year period under the bring-forward rule), up from $150,000 and $450,000 previously. Non-concessional contributions under the "non-concessional contributions cap" are not taxed in the fund. However, if the annual non-concessional contributions cap is exceeded a tax rate of 46.5% applies to the excess. In the 2016 federal budget, the government proposed to change, effective 1 July 2016, the non-concessional contributions cap to a lifetime cap of $500,000 instead of the annual cap of $180,000 and the abolition of the bring-forward rule.