As an incentive to help you save for your retirement, super enjoys concessional tax treatment. However, there are limits on the amount of contributions that can be made to your super each financial year that are taxed at concessional rates. If you contribute more than these limits you could potentially pay extra tax.
Different limits and tax consequences apply, depending on your age and whether the contributions made are:
The table below details the contribution limits and how they apply.
|Member type||Before tax (Concessional contributions)||After-tax (Non-concessional contributions)|
|Employee members under age 50^||$30,000 per annum (includes salary sacrifice and your employer’s notional taxed contributions).||$180,000 per annum*|
|Employee members aged 50 or over^||$35,000 per annum (includes salary sacrifice and your employer’s notional taxed contributions).||$180,000 per annum*|
|Rollover and Spouse members||The same age based limits apply for personal before-tax contributions made by self-employed rollover and spouse members for which they intend to claim a tax deduction.||$180,000 per annum*|
You can only make after-tax contributions to your APSS account if we have your tax file number (TFN). If you would like to provide the APSS with your TFN, just complete and return the Provide your Tax File Number form. You can also provide your TFN by calling SuperPhone on 1300 360 373.