Putting a little extra away now could make a world of difference later. Boosting your retirement savings is easy and depending on your eligibility, the government may even match a portion of your contribution to super. Check your eligibility below and calculate the after-tax contribution you could receive from the government.
Why make after-tax contributions?
Boost your balance
The more you put into your super now, the more you'll have to enjoy later in life.
If eligible, the government will reward your savings efforts with a co-contribution of up to $500.
By boosting your spouse's super balance, you could be eligible for a tax offset of up to $540.
Calculate your super co-contribution and spouse contribution tax offset entitlements.
Advice servicesAs a member of NGS, you have access to our dedicated advice services. Our expert advice team can help you make sense of your finances, and guide you to achieving the goals you have, whether big or small. Find out more
NGS must have your tax file number to accept after-tax contributions.
Eligible personal super contributions were or are to be made to your super account during the 2021/22 financial year.
Your total annual income is assumed to meet the definition of ‘total income’ for the co-contribution eligibility test and income for the spouse tax offset eligibility test, which is the sum of the following with nil allowable business deductions:
- your assessable income for the financial year
- your reportable fringe benefits total for the financial year and
- your total reportable employer super contributions for the financial year.
In addition, you must also meet the following conditions:
- you must have had a total superannuation balance less than $1.7 million on 30 June 2021.
- you will not breach the non-concessional (after-tax) contribution cap ($110,000) for the 2021/22 financial year. Note: you are not entitled to a super co-contribution and your spouse is not entitled to a tax offset in respect of any personal contributions that have been allowed as tax deduction.
The case study figures provided are based on a series of assumptions, and are general illustrations only. They do not take your personal circumstances into account and are not intended to be a substitute for professional advice.
Visit our General Advice Warning.
Past investment performance is not a reliable indicator of future performance.