Tax deductable contributions
You may be able to claim a tax deduction on some or all of the after tax contributions you pay into super account. It’s a great way to make the most for your future, while saving right now.
Voluntary after-tax contributions
You can add to your super from your after-tax income on a one-off basis or regularly. Depending on your situation, voluntary after-tax contributions could be a good way for you to grow your super balance.
Note: From 1 July 2021, COVID-19 early release re-contributions can be accepted under the Treasury Laws Amendment.
Depending on your income, you may be eligible for an extra super contribution from the Government of up to $500.
You can a build a better future together by contributing to your spouse’s super. And just by doing this, you could get a handy tax offset in the process.
By law, employers need to contribute at least 10% of your ordinary times earnings into super. You can maximise the value of this contribution by choosing the right fund for you.
Low income super tax offset
To help you save for your retirement, the Government could boost your super savings by giving you a low income super tax offset.
Australians aged 65 and over who are downsizing for retirement can now make an after-tax contribution to their super of up to $300,000, using the proceeds from the sale of their family home.
We know that super can sometimes seem complex and confusing.