After-tax contributions

Benefits

There are benefits to making personal after-tax (non-concessional) contributions on top of the money your employer adds:

Tax savings

The most you pay on the money your super earns is 15%, while you could pay up to 47% tax on investment earnings outside super.

It’s convenient

An easy way to add to your super if your employer doesn’t offer salary sacrifice or you’re self-employed – making a one-off contribution or setting up an on-going payment through your bank.

Claim a tax deduction

You can also claim a deduction for post-tax contributions to help lower your tax bill. This changes them into pre-tax contributions.

Find out about claiming a deduction

Assumptions: Growth rate is 5.5%, $60,000 Salary, CPI indexed at 2.5%, Salary and contributions are indexed at 2.5%, Starting balance is $4k and Retirement balances are at age 67 but are in todays dollars.

Things to know

• You can claim a tax deduction on up to $27,500 on these contributions.
• If you earn less than $58,445 before-tax you could be eligible for a government co-contribution.
• You may be able to claim a tax offset if you contribute to your spouse’ super account.

Limits and caps

• These contributions count towards your non-concessional contributions cap
• You can contribute up to $110,000 per year in non-concessional contributions.

Next steps

You can make a personal contribution to your super through your online banking using your account BPAY details.

Get my BPAY number