Information for individuals

How much can I contribute to a complying super fund?

Caps apply to contributions made to your super fund. Any super contributed over the cap is subject to extra tax. The cap amount and how much extra tax you pay once you exceed it depend on whether the contributions are concessional or non-concessional.

Concessional contributions are generally included in your super fund's assessable income for the year. They include:

  • superannuation guarantee amounts
  • salary sacrificed amounts
  • any amount you are allowed as a personal super deduction in your income tax return.

Non-concessional contributions are generally not included in your fund's assessable income for the year. They include:

  • personal contributions you make from your after-tax income which you don't claim or aren't allowed a personal super deduction for
  • contributions in excess of your lifetime super capital gains tax cap amount
  • transfers from foreign super funds
  • contributions made when the balance of your first home saver account is transferred to your super, including any government contributions paid either with the balance or after that.

As an individual, can I claim a tax deduction for personal contributions I make to a super fund?

You can claim a tax deduction for personal contributions you make to a complying super fund if less than 10% of your total combined assessable income, reportable fringe benefits and reportable employer super contributions for the income year comes from being an employee. These personal contributions will be assessable income of the fund at a rate of 15%.

If you are self-employed, you can claim a tax deduction for personal super contributions you make. To do this, you must:

  • notify your super fund that you intend to claim a tax deduction for your personal contributions
  • receive written acknowledgment of this from your super fund.

If you are eligible to claim tax deductions for super contributions you make, you can continue to do so until you turn 75 years old.

You cannot claim tax deductions for contributions you make to a non-complying super fund.

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