Add money to your super
Your employer needs to pay a minimum of 9.5% of your salary into your super account. This is known as the Superannuation Guarantee (SG).
SG contributions help to grow your super, but the best way of making sure you’ll be able to enjoy a comfortable retirement is to add your own money into your super account.
You can add money to your super with three types of contributions:
- Before-tax (concessional) contributions
- After-tax (non-concessional) contributions
- Other contributions
It's never too early or too late to start adding to your super to help boost your balance.
Type of contribution
Also known as
|Before-tax contributions||Concessional contributions||Tax benefits apply to these types of contributions.|
|After-tax contributions||Non-concessional contributions||These are from the income that you’ve already paid tax on.|
These are also called concessional contributions because they can have tax benefits. Your employer SG contributions are a type of concessional contribution - and you can make your own concessional contributions with salary sacrifice or tax-deductible personal contributions.
There’s a limit to the amount of concessional contributions you can make, known as the concessional contributions cap.
|Type of before-tax contribution||What is it?||Why make these contributions?|
Making extra contributions from your before-tax income is known as salary sacrificing. The money you 'sacrifice' gets paid directly from your salary into your super account before you pay income tax.
Salary sacrifice helps to grow your super and reduces your taxable income. This means you could pay less income tax.
|Tax-deductible personal contributions|
If you’re eligible, you can claim these personal contributions as an income tax deduction on your income tax return.
If you’re self-employed, substantially self-employed or not entitled to receive SG, you can still contribute to your super. If you’re eligible, you might be able to claim a tax deduction for your contributions. This means you could pay less income tax.
These are also called non-concessional contributions because they come from the income that you’ve already paid tax on. Personal after-tax contributions and spouse or partner contributions are non-concessional contributions.
If you’ve reached your concessional contributions cap, you can use after-tax contributions to keep growing your super.
|Type of after-tax contribution||What is it?||Why make these contributions?|
|Personal after-tax contributions|
You can add to your super from your post-tax salary, or use lump sums such as an inheritance, lottery win or money from selling any assets, such as a house.
You’ll grow your super balance and could qualify for a Commonwealth Government Super Co-contribution. Earnings on super are generally taxed at 15%, so you might be able to take advantage of tax benefits.
|Spouse or partner contributions|
You can add money to your spouse or partner’s super account to help boost their balance. This can be helpful if they earn less income than you or if they have spent time away from work, for example to raise a family.
You can help to grow your joint retirement savings and, if you’re eligible, you might be entitled to a tax offset.
It’s worth learning about other ways you might be able to increase your super. You might be eligible for:
You might also benefit from saving fees by:
When it comes to growing your super, every bit counts towards boosting your balance for a comfortable retirement.
Contribution caps apply
There are caps that apply to concessional and non-concessional contributions, which depend on which type of account you have with us.
Thank you for printing this page. Remember to come back to gesb.wa.gov.au for the latest information as our content is updated regularly. This information is correct as at 28 June 2017.