Our investment team continues to closely monitor global developments, including recent events in the Middle East, to carefully manage your super through changing market conditions. You can read more here.
Our investment team continues to closely monitor global developments, including recent events in the Middle East, to carefully manage your super through changing market conditions. You can read more here.
Adding a little extra now could make a big difference in retirement.
A voluntary contribution (also known as a personal contribution) is any extra money you choose to add to your super, from your after-tax salary or personal savings. It can help increase your super balance over time, to give you more in retirement. You may also be able to claim a tax deduction on eligible personal contributions, which could reduce the tax you pay.
Looking for a simple way to grow your super? By adding money to your super, your contribution is treated as a non-concessional contribution.
You can make a one‑off payment or contribute regularly from money held outside of super. Because the money’s already been taxed, your super fund won’t deduct tax on these contributions.
For most people, the annual cap is $120,000 per financial year (increasing to $130,000 from 1 July 20261). If eligible, you may be able to contribute up to three years’ worth of the caps at once (up to $360,000 or increasing to $390,000 from 1 July 20261) using the bring‑forward rule. Make sure to check your eligibility before making a large contribution.
Making a voluntary contribution and claiming a tax deduction may help you grow your super in a tax-effective way.
By adding money to your super and claiming a tax deduction, your contribution is treated as a concessional contribution.
Concessional contributions are capped at $30,000 per financial year (increasing to $32,500 from 1 July 20261) and includes employer contributions, such as Superannuation Guarantee (SG), as well as any salary sacrifice contributions.
If eligible, you may be able to use the carry forward unused concessional contributions which means your personal concessional contribution cap may be higher than the annual cap.
These contributions are generally taxed at 15% (or 30% if your income is over $250,000) which may be lower than your personal tax rate (up to 47% including the Medicare levy).
This means you could boost your super while potentially paying less tax.
Scroll down to ‘How can I claim a tax deduction?’ to learn more.
You can add money to your super using BPAY®, Credit Card and Direct Debit, or setup regular contributions via Direct Debit.
Here’s how to make a one-off BPAY® contribution:
Prefer Credit Card or Direct Debit?
You will need to submit a valid Notice of Intent to Claim form to us if you’re claiming a deduction for personal contributions made to your MLC super account. You can complete our electronic DocuSign form opens in new window, or you can download our paper-based form and email it to us at contactmlc@mlc.com.au.
Once you’ve submitted the form, you must receive acknowledgment from us, before you:
If you intend to claim a tax deduction for personal contributions, those contributions need to be received by us by 30 June to count toward the current financial year. Please allow 3-5 business days before 30 June for BPAY payments to reach us.
For more information about claiming a deduction visit the ATO website opens in new window, speak with your registered tax agent, or give us a call.
Before you add money to your super, make sure to:
Speak with your financial adviser or registered tax agent, contact us for help, or learn about eligibility on our website.
We understand our members are on unique financial journeys. Your financial goals and lifestyle aspirations are unique, and the advice you receive should be too.
Whether it’s a simple question about your super or a complex financial issue, we have a range of advice services available to provide clarity and help you achieve your best possible retirement outcome.
Often, the best place to start is with our financial coaching team. The team can provide general advice or connect you to a panel of financial advisers, including Shadforth2 and Bridges3.
Ready to start your advice journey? Chat with a Financial Coach today.
Book an appointment
1 Subject to confirmation by the Australian Taxation Office (ATO)
® Registered to BPAY Pty Ltd ABN 69 079 137 518
The Financial Coaches, Super Advisers, Education Managers and Client Relationship Managers provide financial advice under the Australian Financial Services licence (AFSL) of Actuate Alliance Services Pty Ltd ABN 40 083 233 925 AFSL 240 959 (Actuate).
NULIS Nominees (Australia) Limited ABN 80 008 515 633, AFSL 236465 (NULIS) is the trustee of MLC Super Fund ABN 70 732 426 024 (Fund).
Actuate and NULIS are both part of the Insignia Financial group of companies comprising Insignia Financial Limited ABN 49 100 103 722 and its related bodies corporate (Insignia Financial Group).
NULIS has appointed Actuate to provide general and limited advice services (which includes simple super advice) to members of relevant products in the Fund. Neither NULIS, nor any other entity within Insignia Financial Group, including any other entity within the Insignia Financial Group that is a trustee for a regulated superannuation fund, is liable for or responsible for any work, action or advice provided by Actuate.
Any advice or information provided to you by a Financial Coach during a super consultation will be of a general nature only and will not take into account your personal objectives, financial situation and needs. Because of that, before acting on any advice provide to you, you should consider its appropriateness to you, having regard to your personal objectives, financial situation and needs.
Please visit insigniafinancial.com.au/actuatewdi opens in new window for important information about Actuate’s financial advice services.
2 Shadforth Financial Group (Shadforth) ABN 27 127 508 472, AFSL 318613. Shadforth is part of the Insignia Financial Group. Please visit sfg.com.au/wdi-fsg for important information about Shadforth’s financial advice services.
3 Bridges Financial Services Pty Limited (Bridges) ABN 60 003 474 977 AFSL 240837. Bridges is part of the Insignia Financial Group. Please visit bridges.com.au/wdi-fsg for important information about Bridges’ financial advice services.
