If you make a personal after-tax contribution to your super, you can claim a tax deduction on the amount. This may mean you get a little bit extra back at tax time — but there are important rules around timing you should read first.
How your super is taxed
Super is structured as a tax-effective environment for your savings. Find out how tax applies to different contributions, earnings and withdrawals.
Your total super balance is generally the total value of your super interests in both accumulation phase and retirement phase at the end of the previous financial year, — noting that:
- for accumulation phase, this is generally the withdrawal value at 30 June
- for retirement phase, this is the balance of your personal transfer balance cap which is managed by the ATO.
You can view your total super balance through your Australian Taxation Office (ATO) linked account by logging into your myGov account.