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Personal contributions


Convert your savings into super savings by making personal contributions.

How does it work?

If you have money outside super that you want to invest for retirement, you may want to make an after-tax super contribution. 

May be suitable if…

You have surplus cashflow or savings.

What are the benefits?

  • Grow your super.
  • Pay less tax on investment earnings: earnings in super are taxed at up to 15%, instead of your marginal tax rate up to maximum of 47%¹.

Case study

Anika is 50 years of age and has $50,000 in a bank account that she would like to invest for her retirement. She earns $70,000 p.a., so her marginal tax rate is 34.5%1.

If she contributes the money to super, investment earnings will be taxed in the fund at a maximum rate of 15%. That’s a tax saving of 19.5%.

Paying less tax on earnings in super will help build her retirement nest egg and improve her lifestyle when she stops working and can access her super.

Important things to consider

  • To make personal after-tax contributions you must be eligible to contribute to super.
  • Personal after-tax contributions count towards your non-concessional contributions cap and penalties may apply if the cap is exceeded.
  • To make personal after-tax contributions in 2023/24, your total super balance must have been under $1.9 million on 30 June 2023. Other eligibility rules apply.
  • If you make a personal after-tax contribution to your super, you may be eligible for a Government co-contribution of up to $500 if your income is below certain levels and you have employment or business income.
  • If you contribute to your spouse’s super and their income (from certain sources) is below $40,000, you may be eligible for a tax offset of up to $540.
  • You can’t access your super until you meet a condition of release such as reaching your preservation age and retiring.
  • Depending on circumstances it may be possible to claim a tax deduction for personal super contributions. Eligibility rules and other requirements apply and these contributions count towards the concessional cap. These contributions may help to reduce tax payable on employment and other income.
  • Other eligibility conditions apply – see the Australian Taxation Office (ATO) website for more information.

1 Includes Medicare levy.


Related content

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General advice and information only

Any advice and information on this website is general only, and has been prepared without taking into account your particular circumstances and needs. Before acting on any advice on this website you should assess or seek advice on whether it is appropriate for your needs, financial situation and investment objectives.

Tax disclaimer

Any general tax information on this website is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent.