• Voluntary after-tax contributions

  • After-tax contributions, or non-concessional contributions, are the amounts you choose to contribute to your superannuation account from your after-tax income or other sources of taxed money, e.g. from the sale of investments such as shares, property or an inheritance. 

    Build your superannuation now by making voluntary after-tax contributions early. You can choose to make a one-off lump sum payment or set it up so that it happens on a regular basis.

    What does 'after-tax' mean?

    'After-tax contributions' refers to the money that you've already paid tax on and it won't be taxed again when you contribute to your super. However, your future investment earnings will be taxed in your superannuation account and depending on your age may be taxed on withdrawal.

    All after-tax contributions are credited to your member account, which you can view in your transaction history at members' online.

    Making after-tax contributions also means you may be eligible for a bonus contribution from the Government. Check to see if you qualify for a Government co-contribution.

    Need advice?
  • What are the general rules for making after-tax contributions?

    If you are under age 65:

    • The amount of after-tax contributions is capped at $100,000 for the 2017/18 financial year
    • Your total super balance must be below $1.6 million as at 30 June 2017 to be able to make an after-tax contribution
    • You can 'bring forward' future contributions and put in up to three times the non-concessional cap ($100,000 x 3) subject to your account balance. However, you won't be able to make any more con-concessional contributions for the next three years (without paying extra tax). Please refer to How does the bring forward arrangement work?
    • You must provide us with your Tax File Number (TFN)
    • Contributions can be made as a payroll deduction or as a one-off lump sum. You can elect to have this deducted through your employer payroll or via any of the methods listed below.

    If you are age 65 - 74:

    • You will not be able to 'bring forward' future contributions and the amount of after-tax contribution is capped at $100,000 for 2017/2018 provided you meet the work test
    • Your total super balance must be below the general transfer balance cap of $1.6 million as at 30 June 2017
    • If you contribute more than the $100,000 cap, then you will be taxed at the top marginal tax rate 49% on the amount above $100,000
    • You must fulfil the work test and show that you were employed for at least 40 hours over a consecutive 30 day period during the financial year
    • You can make contributions to a spouse up to age 74
    • You must provide us with your Tax File Number (TFN).

    If you are over age 75:

    • You are not eligible to make after-tax contributions

    For more information on changes to the Federal Budget 2016-2017, please take a look at our latest news.

    Need advice?
  • What is the total superannuation balance?

    The total superannuation balance includes the balance of all your superannuation and retirement phase accounts less the sum of any personal injury structured settlement amounts contributed to super.

    For the 2017/2018 financial year, if your total superannuation balance is:

    • Less than $1.6 million as at 30 June 2017, you generally will be able to make after-tax contributions but your total superannuation balance will determine how much you can make
    • Greater than $1.6 million as at 30 June 2017, you will not be able to make any non concessional contributions during the 2017/2018 financial year without exceeding the non concessional cap.

    How does the bring forward arrangement work from 1 July 2017?

    For 2017/18, to access the non-concessional bring forward arrangement:

    • You must be under 65 years of age for one day during the triggering year (the first year)
    • You must have a total superannuation balance less than $1.5 million.

    Total superannuation balance on 30 June 2017 Non-concessional contributions cap for the first year Bring-forward period
    Less than $1.4 million $300,000 3 years
    $1.4 million to less than $1.5 million $200,000 2 years
    $1.5 million to less than $1.6 million $100,000 N/A

    Transitional arrangements apply if you have triggered the bring forward period in 2015/16 or 2016/17. Please contact the ATO on 13 10 20 if you require assistance with the transition rules.

  • Benefit Projection

    How much more can you save in retirement by making additional contributions?

    By making contributions into your account over the course of a lifetime, there is potential to significantly grow your nest egg. By putting away an extra $20, $50 or $100 on a regular basis, you can better allow yourself to live a comfortable retirement filled with travel, entertainment, and leisurely activities. 

    The alternative to not having enough when you retire and running the risk of depleting your account at a rate faster than you anticipated, is having to rely on the Age Pension

    We highly encourage our members to plan ahead to achieve the best results for their superannuation and pension accounts. Use our benefit projection calculator and enter your income details to see how much you can contribute and how much you could be saving!

    You may be faced with several options if you come across a large sum of funds and would like advice on how to invest it. Here are a few situations which may be applicable to you:

    • If you receive an inheritance
    • If you make a sale on an investment property or shares
    • If you are rewarded with a bonus at work


    Why should you make after-tax contributions?

    It can be a good idea to make after-tax contributions because:

    • Your retirement savings will greatly benefit from the power of compound returns, if you begin to put additional money away well before retirement age
    • You won't be taxed 15% on contributions when it enters the Fund, because this is already taken from your after-tax money
    • You may be eligible for the Government co-contribution if your income is under $51,813 in the 2017/18 financial year
    • Your investment earnings will be tax-free if you commence a pension at retirement, or taxed at a concessional rate of 15% if you commence a transition to retirement pension
  • It may be a good idea to make regular contributions to your super early on in your career in order to benefit from compound returns. If you start to be engaged with your super at a young age, it is more likely that you will maximise your retirement savings over the course of your career. 

    What are compound returns?

    Compound returns arise when you take the returns and add it to the total, and then include the returns for the new total and continue to roll the returns into the principal amount. 

    compounding interest

    [The use of a figure of 10% is for illustrative purposes only]

    The effects of compound returns mean that small decisions from the start of your career will have a significant impact on the level of retirement savings you accumulate.

  • To learn more about the power of compounding, and how starting early can make a significant difference to your retirement savings balance, review the following case studies:

    Tiffany and Michelle, where Tiffany commences additional contributions at age 25, whereas Michelle defers contributions until age 45 and while contributing significantly more, doesn't reach Tiffany's balance.

    Julie and Sandro, where Julie starts contributing an additional $200 per month from age 35. Sandro defers additional contributions until age 45, and although he then contributes $600 per month, doesn't reach the same balance as Julie.

  • Can I make a tax deduction on my after-tax contributions?

    From 1 July 2017, if you are aged less than 75 (and if you’re between 65 and 74, you’ll need to meet the work test) you can claim a tax deduction for personal payments made to a complying superannuation fund up to $25,000. The $25,000 limit includes employer contributions, salary sacrifice contributions and any personal contributions for which you claim a tax deduction. You will need to advise the super fund of the amount you intend to claim as a deduction.

  • How do I make an after-tax super contribution?

    Put a little bit away regularly to build for a better retirement.

    BPAY logo 2014The path to a more comfortable future starts now! It all begins with making contributions to your superannuation account when you're young and growing your investment through compound investment returns over the long term. Whether you've just recently come across a sum of money, received a pay rise at work, or have budgeted your finances to allow room to save more every week - a little bit goes a long way and it all begins now!

    Grow your super by making personal payments straight into your account. You can choose to make a one-off lump sum payment, or make an arrangement with your payroll office where a small amount is deducted from your pay cheque on a regular basis.

    Making an after-tax (non-concessional) contribution is no different to paying a bill or transferring money via BPAY®:

    • Use phone or internet banking through your bank, building society or credit union
    • Quote our Biller Code 444232  
    • Enter your account number as the customer reference number (CRN) (employers enter their BPAY reference number)
    • Allow up to three working days for bank transfer and processing time.

    To find out your account number, login to Members online or call us on 1300 658 776. Employers also need to forward (by email: cssf@catholicsuper.com.au) a contribution remittance advice to the Fund so we can correctly allocate contributions to member accounts.

    Refer to our page on How to contribute to superannuation for more details and other contribution payment methods.

    ®Registered to BPAY Pty Ltd ABN 69 079 137 518.