Even small additional contributions to your account each month can make a big difference to the size of your super account. There are two ways you can make extra contributions to your super: before tax and after tax.
Before tax (concessional contributions)
Salary sacrifice
You can make extra contributions by ‘sacrificing’ some of your salary. The extra contributions go directly from your salary into your super, the same way your normal super guarantee contributions are paid by your employer.
Your take home pay will be less, however there are potential tax benefits worth considering. Your super is taxed at 15%. If your income tax rate is higher than 15%, then you will save money on tax.
After-tax (non-concessional contributions)
Personal contributions
You can make extra contributions in lump sums from your normal take home pay. This is not taxed as you’ve already paid the tax on the income.
Contribution limits
There are limits to the amount you can add to your super account after-tax. The 2018 - 2019 financial year, the non-concessional cap is $100,000 for all individuals 65 years of age or under. Limits also apply depending on much you already have in your super account.
| Total superannuation balance | Contribution and bring forward available |
| Less than $1.4 million | Access to $300,000 cap (over 3 years) |
| $1.4 million to less than $1.5 million | Access to $200,000 cap (over 2 years) |
| $1.5 million to less than $1.6 million | Access to $100,000 cap (no bring-forward period, general non-concessional contributions cap applies) |
| $1.6 million and over | Nil |
Government top-up for low income earners
If you earn less than $52,697 p.a. and make a personal contribution into your super, you may be eligible for the Government co-contribution and receive up to $500 extra into your super each year. For eligibility criteria, see the ATO website.
Tax offset for spouse contributions
Want to help your spouse's super? If you spouse earns less than $37,000 a year and you add as much as $3,000 into their super, you could get an 18% tax offset. saving you up to $540 in tax.
Tax rules, including the contribution caps and other figures shown here are subject to change from year to year due to changes in legislation or annual indexation. For up to date information about the contribution caps and other figures, go to www.ato.gov.au.