Superannuation Contributions

Additional contributions into your Super Fund has significant benefits to be considered as highlighted below:

Salary Packaging Contributions into your Superannuation does not count towards any Exemption Cap or Rebatable Cap limits – these contributions are all made in addition to your Cap allowance.
The Superannuation Contributions Cap (Limit) is $27,500 per tax year (1 July to 30 June) for Pre-Tax contributions from both the Employer and Employee
Your Superannuation Fund pays 15% Contributions Tax to the ATO on these Pre-Tax Superannuation Contributions
The Superannuation Contributions Cap (Limit) is $27,500 – this is applicable to all of your Super Funds combined including a SMSF
You can Salary Package additional Contributions to your spouse’s Super Fund
Generally, making extra Concessional Contributions into your Super Fund is tax effective if you earn more than $45,000 per year.
You NEED to consider ALL of your personal circumstances before committing to additional voluntary contributions into your Fund, so seek financial advice before proceeding with additional contributions.

FAQ's