After-tax contributions

After-tax contributions

Make voluntary after-tax contributions and the Commonwealth Government may give your super a boost.

Growing super is one of the best ways to ready yourself for the life you’re dreaming of living when you retire.

While your employer makes regular contributions into your account, making after-tax contributions is an easy way to give your super a boost. Because you’ve paid tax on this money already, you won’t have to pay tax on it again.

But here’s the best part.

On top of the boost you give yourself using your take-home pay and/or savings, your super may get an extra boost in the form of:

 

Government Co-Contribution

If you earn less than $56,112 in the 2021/2022 financial year,the Commonwealth Government may contribute up to $0.50 for every $1.00 you add to your super after tax, up to $500 per annum (subject to eligibility criteria). Over time, your after-tax contributions and/or Government Co-Contributions will help you accumulate more for your retirement.

With more in your Super SA account, you may get where you want sooner because you’ll be earning returns on top of returns.

Government Co-Contribution
Government Co-Contribution

Frequently asked questions about after-tax contributions

  • There is no limit on the percentage you're able to contribute from your after-tax salary through your employer. As long as it’s a whole percentage (e.g. 5%, 75%) or 4.5%.

    You can also make one-off lump sum after tax contributions to Triple S while you are still employed.

    As the Triple S is an untaxed fund you will not be eligible for a tax deduction for any after tax deductions paid into Triple S. There is a cap on the amount of after tax contributions you can make in a financial year. If you exceed the cap you may be subject to tax at the top marginal tax rate. The cap is currently $110,000 per annum however if you are under age 67, you may be able to bring forward 2 years cap and contribute up to $330,000 in one year.

    If you would like to learn more about after-tax contributions, please read the Triple S Product Disclosure Statement and Reference Guide of your relevant Scheme.

  • There is no limit on the percentage you're able to contribute from your after-tax salary through your employer. As long as it’s a whole percentage (e.g. 5%, 75%) or 4.5%.

    You can also make one-off lump sum after tax contributions to Super SA Select while you are still employed.

    If you make any after-tax contribution into your Super SA Select account, regardless of your income level, you could claim a deduction for those contributions in your next Tax Return.

    There is a cap on the amount of after tax contributions you can make in a financial year. If you exceed the cap you may be subject to tax at the top marginal tax rate. The cap is currently $110,000 per annum however if you are under age 67, you may be able to bring forward 2 years cap and contribute up to $330,000 in one year.

    If you would like to learn more about after-tax contributions, please read the Super SA Select Product Disclosure Statement and Reference Guide of your relevant Scheme.

  • Yes, you must be employed to be eligible to make after-tax contributions to your Triple S or Super SA Select account.

  • Over the years, different people have called after-tax contributions by different names.

    Some of these include:

    • Non-concessional contributions
    • Post-tax contributions
    • Voluntary contributions
    • Personal super contributions
    • Personal after-tax contributions

    While the names are different, they are all still regarded by employers and the Government as after-tax contributions.

Ready to make an after-tax contribution?

You might even get a Government Co-contribution.

BPAY is a simple way to make a one off or set up re-occuring after-tax contribution.

Have the following details ready when making your payment:

  • Triple S Biller Code: 465 104, or
  • Super SA Select Biller Code: 979 559, and
  • Customer Reference Number (available in the online member portal).


Alternatively, you can set up regular after-tax contributions via payroll –


If you need help with anything, don’t hesitate to give us a call on 1300 369 315 or email us. We’d be happy to help you out.

The information shown on this website is general information only. We haven’t considered your needs or objectives when providing the information. You should assess your own financial situation and needs and read the relevant Product Disclosure Statement before deciding about products on this website.

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