MEMBER VOLUNTARY CONTRIBUTIONS

To help boost your super you can make personal contributions.

 

Voluntary contributions are your personal, extra contributions paid out of your after-tax salary. They are also known as non-concessional contributions. They are reported to the ATO for the Government Co-contribution.

 

As these contributions have already been taxed as earnings (at the marginal tax rate that applies to you) they are not taxed when deposited into your super account or if you withdraw your super benefit as cash when you retire.

 

Limits may apply to the amount of non-concessional contributions that can be paid each financial year. Where contributions exceed these limits extra tax is payable.

 

For further information refer to Fact Sheet FS12 Contribution Options - Boost Your Super.