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Boost your super and claim a tax deduction

4 read min
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With cost-of-living pressures on the rise, putting money aside for retirement may not be high on your priority list. But if you can, even small amounts can make a big difference on your super balance when you retire, while also reaping the benefits of potential tax savings.

After-tax (non-concessional) contributions

 

  • These are made to your super fund with after-tax money.
  • This can include personal contributions made from your take-home pay, or contributions from a partner or family member on your behalf.
  • Because non-concessional contributions have already been taxed at your marginal tax rate, they are not taxed when they are received by your super fund. 
  • You may also be able to make these contributions and claim them on tax after 30 June.

 

Salary sacrifice (concessional contributions)

 

  • This is when you and your employer agree to pay a portion of your pre-tax salary as an additional contribution to your super.
  • This can also be a tax-effective strategy, especially if you’re paying more than 15% tax on your wage.
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Need more help? Contact our Client Services team

As a member, you can get personalised support from our Client Services team at no cost or obligation. They can provide general information and limited personal advice on managing your retirement account.
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