How to Contribute to Super?

Contributing to superannuation can be done is several ways, however care needs to be taken that you do not breach any contribution caps or limits.

Most modern superannuation funds or platform have access to the bPay and Direct Credit banking systems, that enable you fast access to making contributions, also with the advent of SuperStream employer contributions are much faster to reach you superannuation fund.

(note that an employer only needs to make the superannuation contribution ever quarter regardless of how frequently you get paid)

SG Contribution (work)

This is the government mandated contribution required to be made by your employer, currently 9.5% (as at 01/07/2014) there was plans for this rate to be increased gradually however that has now been placed on hold.

Award/Other Contribution (work)

Some employment arrangements have additional contributions being made by your employer above and beyond the normal SG Contribution based on the negotiated contract or award.

Also possible is some employment contracts allow for matching contributions, for example you add an extra 5% then the employer will add a bonus 2.5%.



Salary Sacrifice (work)

Some employer offer their staff the ability to salary package items including superannuation contributions, basically your employer takes extra superannuation contributions from your wage before tax, allowing you savings and build your super balance much faster.

Superannuation Contribution Salary Sacrifice
provided by MLC 201806 (click to enlarge)

Personal Contribution - Deductable

This is you personally making cash contributions from your own funds however you then claim it as a tax deduction for the financial year. This method was once reserved for only self employed and those that satisfied the 10% test but it has since expanded to include employees.

Superannuation Contribution Personal Concessional
provided by MLC 201806 (click to enlarge)

Personal Contribution - Undeducted

This is you making cash contributions from your own funds after tax

Superannuation Contribution Personal Non Concessional
provided by MLC 201806 (click to enlarge)

Spouse Contribution

Under certain conditions it is possible for a spouse to contribute to your superannuation fund and they may be able to claim a tax deduction.

Superannuation Contribution Spouse
provided by MLC 201806 (click to enlarge)

Co-Contribution

Under certain conditions it is possible for you to make personal contributions and then at the end of each year the government will add / match a co-contribution. Please note that this free contrbution has been almost died, but has managed to survive many attempts on its life

Superannuation Co Contribution
provided by MLC 201806 (click to enlarge)