Super Contributions |
Under Age 65 |
Over Age 65 |
Limit $25k p.a. Includes:
Personal Contributions claimed as a tax deduction. You must complete the ATO Notice of Intent to Claim Form before completing your tax return. |
Limit $25k p.a. Includes:
Personal Contributions claimed as a tax deduction. You must complete the ATO Notice of Intent to Claim Form before completing your tax return. |
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When your super balance is less than $500k, you can make catch up Concessional Contributions from unused amounts from FY 18/19. FY 19/20 is the first year this can be used. If you did not make the max $25k contribution for FY 18/19, you can make the contribution in FY 19/20 or the next 4 years. Unused amounts are available for 5 years and then will expire. |
When you super balance is less than $500k, you can make catch up Concessional Contributions from unused amounts from FY 18/19. FY 19/20 is the first year this can be used. If you did not make the max $25k contribution for FY 18/19, you can make the contribution in FY 19/20 or the next 4 years. Unused amounts are available for 5 years and then will expire. |
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Limit $100k per year, with an option to Bring Forward 3 years if you are under Age 65. |
Limit $100k per year. When you are aged 65-74 you must meet the Work Test in order to make a contribution. The work test requires you to be gainfully employed. To satisfy the work test, you must work at least 40 hours during a consecutive 30-day period each financial year in which the contributions are made. |
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If your spouse’s income is $37k or less, you can make a $3,000 contribution to super and receive a $540 tax offset. |
If your spouse’s income is $37k or less, you can make $3,000 contribution to super and receive a $540 tax offset. |
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If your income is less than $38,564 and you make a contribution of $1,000 to super, you will receive a $500 co-contribution from the Government. This will be added to your super fund once you complete your tax return. If your income is between $38,564 and $53,564 you will still be eligible for the Government Co-Contribution, however it will progressively reduce. |
If your income is less than $38,564 and you make a contribution of $1,000 to super, you will receive a $500 co-contribution from the Government. This will be added to your super fund once you complete your tax return. If your income is between $38,564 and $53,564 you will still be eligible for the Government Co-Contribution, however it will progressively reduce. |