For the full definition of 'income' used by the Australian Taxation Office (ATO) and other details on Division 293 tax and excess contribution rules, refer to the ATO website at. However, this figure is indexed by CPI and the ATO has confirmed. See full list on ato. Find out about caps on contributions to defined benefit funds and constitutionally protected (CPF) funds. For a member turning 75, contributions must be received no later than 28 days after the end of the month they turn 75. gov. You can boost your retirement savings by making voluntary super contributions, such as by: setting up a salary sacrifice arrangement with your employer. You can now: view your super fund accounts and balances, and amounts held by us; find lost and ATO-held super and. Your total super balance needs to be less than $500,000 on 30 June of the previous financial year. 9 million from 1 July 2023) From 1 July 2021 to 30 June 2023, the Total Super Balance limit was $1. If they wanted to add more to Jenny’s super, they could split the contributions by adding $300,000 to Jenny’s super and $100,000 to Tom’s super. Dinah is self-employed and can claim a tax deduction Dinah is a self-employed cleaner and earns $55,000 each year as a sole trader. You don’t need to offer a choice of super fund to some employees, but you may still need to request. You can boost your super by adding your own personal contributions, which are the amounts you contribute directly to your super fund. the matching rate was set at 50%. Carmel and Adam are married and living together. The SGC is made up of: super guarantee shortfall including. 9 million from 1 July 2023) From 1 July 2021 to 30 June 2023, the Total Super Balance limit was $1. which employees are eligible for super contributions? YES/NO. For personal super contributions made on or after 1 July 2017, there is no income test. From 1 July 2022, two new SG changes applied. Generally, the ATO will not pursue unpaid super enquiries relating to contribution periods that ended more than five years ago. the time they lodge their personal income tax return for the financial year during which the contribution was made. If your income and concessional super contributions total more than $250,000, check if you have to pay Division 293 tax. You. 2. This effectively reduces your taxable income, meaning you pay less tax on your income. This form notifies us that you made concessional contributions in one financial year (year 1) but your self-managed superannuation fund (SMSF) did not allocate them to you until the next financial year (year 2). Note: Payments may take up to 7 business days to be transferred through the ATO and super fund before they reach the employee's super fund account. You should complete this form if you make a personal super contribution using the capital proceeds of the sale of certain small business assets, and you elect to exclude them from your non-concessional contributions cap. Personal contributions – deductions. making personal super contributions (and a non-concessional contribution may make you eligible for the government's super co-contribution) transferring any super you have. the higher income threshold was set at $15,000 above the lower income threshold. Extra contributions may include salary sacrificed amounts an employee has arranged to have deducted from their pre-tax income and paid into their super fund. Older super fund members who want to make a large non-concessional contribution into their super account can now do so from 1 July 2022, after the Treasury Laws Amendment (Enhancing Superannuation Outcomes) Regulations 2022 became law. $27,500. From 1 July 2021 the general concessional contributions cap is $27,500 as a result of indexation in line with average weekly ordinary time earnings (AWOTE). Step 3: Receive confirmation from AustralianSuper. The normal annual contribution caps apply. Your total superannuation balance at 30 June 2021 was less than $1,600,000. Super co-contribution If you are a low or middle-income earner and make personal (after-tax) super contributions to your super fund, the government also contributes to your super (called super co-contribution) up to a maximum amount of $500. Contributions caps. Division 293 tax is charged at 15% of the excess over the threshold or the taxable super contributions, whichever is less. Some super funds require employers to contribute monthly. This includes: $27. 6 million on 30 June of the year before. Your 15% contributions tax on this amount is $567 (which is paid by your super fund to the ATO). If the stapled super fund account provided by us can't accept contributions for the employee, you should make another request for the employee’s stapled super fund via ATO online services. For more information, see the Guide for employees and self-employed –. It will help you work out the. How to pay super, the amount to pay and due dates for payment. Learn more about the low-rate cap. This is $1. your total income for 2021–22 was less than $56,112. Step 2: Apply that proportion to calculate the tax-free component of Peter’s lump sum as follows: $50,000 x 25% – $12,500. by lodging a paper form with the fund you wish to transfer your super from – Rollover initiation request to transfer whole balance of superannuation benefits between funds. With SuperStream, money and data are sent electronically in a standard format. The TFN is required at the time you make the super guarantee contribution. 4. Super contributions should either be made to: the employee’s chosen fund; you should make a stapled super fund request and make contributions to the fund that we advise. Super provides income for your employees in their retirement. you will have to pay Division 293 tax, which applies when your combined income and concessional super contributions for Division 293 purposes is more than $250,000. You can boost your retirement savings by making voluntary super contributions, such as by: setting up a salary sacrifice arrangement with your employer. If you reach your preservation age and withdraw super before turning 60, you pay tax on the taxable components of your payments. Once you lodge your tax return for the 2023-24 financial year, the ATO will pay any eligible co-contributions into your First Super account automatically. Before 2020–21, the age limit for accepting all types of contributions was 65 years old. This information should be included on your payslips. APRA regulated funds report contributions to the ATO when received and 30 June balances by 31 October, and the ATO will make the determination following receipt of this information. When a super due date falls on a weekend or public holiday, your contribution must be received by the fund on or before the next business day. secure mail for tax practitioners. Choose the right investment options for you. Division 293 tax may reduce the tax concession on super contributions for individuals. Super for self-employed people. the maximum co-contribution entitlement was set at $500. If you've confirmed your super hasn't been paid correctly and completed all of the checks in the above steps, you can report your employer using our online tool. 7 million. Acknowledging notices. Reportable superannuation contributions are extra money that you or your employer have paid into your super in addition to the mandatory super payments. Eligible small businesses can pay super for their employees through the Small Business Superannuation Clearing House. From 1 July 2022, if you are under 75 you will no longer need to meet the work test to make or receive non-concessional super contributions and salary sacrifice contributions. Government super contributions. These contributions are taxed at 15%. For more information visit ato. 3. 5% for each $1 over $45,000 (in addition to $5092 in tax). Where possible, we will notify you if we do this. From 1 July 2017 to 30 June 2021, the concessional contribution cap for each year was $25,000. You can find your income statement in ATO online services through myGov or the ATO app. Summary Under an industrial agreement, Rodger's employer makes additional employer contributions for Rodger's benefit. The Government will also set public targets for the ATO on. Your total income for 2021–22, was less than $56,112. gov. If they wanted to add more to Jenny’s super, they could split the contributions by adding $300,000 to Jenny’s super and $100,000 to Tom’s super. It still applies if you want to claim a personal super contribution deduction. Your personal contributions must reach your super fund by 30 June for you to receive a government co-contribution for that financial year. The minimum SG is calculated as a percentage of each eligible employee’s earnings (ordinary time earnings) to a complying super fund or retirement savings account (RSA). Payments from super. Individuals can re-contribute amounts they withdrew under the COVID-19 early release of super. Johnson Pty Ltd must record the extra contributions made for Adnan as reportable employer super contributions. If your income and concessional super contributions total more than $250,000, check if you have to pay Division 293 tax. The sum of your spouse's assessable income (excluding any assessable First home super saver released amount or COVID-19 early release of superannuation payment), total reportable fringe benefits amounts and reportable. About the non-concessional contributions cap. Why and how to pay yourself super. If a member is eligible, they can claim an income tax deduction for super contributions they make for their own benefit. The tax offset is calculated as 18% of the lesser of: $3,000, reduced by $1 for every $1 that the sum of your spouse's assessable income, total reportable fringe benefits amounts and reportable employer superannuation contributions for the year was more than $37,000. To be eligible to make after-tax contributions, you must have less than $1. If you are unable to access our ATO online services, you can check with your fund or phone us. Super contributions optimiser. small business 50% active asset reduction. The Super guarantee (SG) contributions calculator tool helps you work out the superannuation guarantee amount to pay to your employee's super fund. Instructions; More informationIf you were under 67 years of age during the financial years 2020–21 and 2021–22, your fund could accept all types of contributions. If possible, try to resolve your complaint by discussing it with your employer before reporting them. Payments from super. Contributions you can make as a retiree (by age) 1. Important: this calculator is to be used as a guide only. ensure if it is a variation notice, that it does not increase the amount to be claimed. Do not include: any contract payments that are for material and equipment. the matching rate was set at 50%. Contributing more than the caps to your super may mean having to pay extra tax. Income thresholds. An assessment by the ATO of an excess non-concessional contribution will provide you with two options. Super is a great way to save money for your retirement. That is, the amount that is additional to the minimum contributions Johnson Pty. gov. If you choose to have the contributions offset. e. The super guarantee rate is currently 11% of ordinary earnings. You may be able to claim a deduction for personal super contributions you make to a complying super fund or retirement savings account (RSA). Contributions for spouses or children. You must report extra super contributions you make for your employees to the ATO. You did not exceed your non-concessional contribution cap. Reportable employer superannuation contributions are additional to the compulsory contributions your employer must make. Module 7: Reducing the risk. 4 min read. Employers need to make super guarantee (SG) contributions to an employee's super fund for every quarter and ensure that they are received by the fund by the following dates: Quarter 1 (July–September) – due 28 October. The 2021–22 concessional contributions cap is $27,500 unless you carry-forward unused concessional contributions amounts from previous financial years. Contributions caps. When and how you can transfer or roll over your super to another fund, and how to consolidate multiple super accounts. But these contributions are still taxed within your super fund, but at a rate of 15%, which is lower than most people’s marginal tax rate, the ATO says. 5% of Adnan's salary. your total superannuation balance at 30 June 2021 was less than $1,600,000. Provide employees' TFNs to their funds. If you choose to have the contributions offset. Lodge your tax return so we can check if you are eligible for a super co-contribution payment up to $500. 2 million for consultation and co-design. Claiming a tax deduction on your after-tax contribution essentially changes it to a before-tax contribution. Income. $17,353 if no employee contributions are made. Rates and thresholds apply to contributions, employment termination payments, super guarantee and co-contributions. Step 2: Send the form to AustralianSuper via our contact us page or post. The following table illustrates how salary sacrificing. haven’t given your TFN to your super fund. From 1 July 2020 to 30 June 2022, if you were aged 67 to 74 and your TSB was below $300,000 at the end of the previous year, you can make voluntary super contributions for 12 months from the end of the financial year in which you last met the work test. Last modified: 02 Aug 2023 QC 73085. Ordinary time earnings are what you earn for your ordinary hours of work. If Jenny and Tom’s house sold for $400,000, they could each contribute $200,000 to their super. The reform lifts the cut-off age for using the bring-forward rule to under 75 from under 67. gov. If you earn over $250,000, you may pay an extra 15% tax—so in total, you’ll pay 30% tax on some or all of the contributions. Module 4: Calculating super guarantee. For individuals between 67 and 74 wishing to claim a tax deduction for their super contributions, the ATO will administer the work test when the tax return is lodged. What is the maximum super contribution? The maximum super contribution you can make to your super depends on what type of contribution you're making. When making voluntary concessional contributions, you should remember that SG contributions also count towards the cap. For salary or wage payments, you need to pay the minimum superannuation guarantee (SG) contribution based on the super guarantee rate for the relevant year. If you pay a worker, you are also required to pay them super guarantee: Amount of pay – you pay it regardless of how much they are paid – their earnings amount is not relevant. Module 5: Paying super contributions. 9 million in 2023-24. If your income and concessional super contributions total more than $250,000, check if you have to pay Division 293 tax. Calculate the tax-free and taxable proportions of Peter’s super interest ($400,000) just before the benefit is paid: Tax-free component of $100,000 = 25%. Contributions caps. gov. Adding to your super. The scheme allows you to make voluntary contributions (both before-tax concessional and after-tax non-concessional) into your super fund to save for your first home. Super co-contribution calculator. All tax calculations should be performed by a qualified tax accountant. SG contributions should be paid to one of the following: Employee's chosen fund Employee's stapled super fund Other fund that meets your choice of fund obligations. If a member is eligible, they can claim an income tax deduction for super contributions they make for their own benefit. Calculation of contributions tax, including standard contributions tax and Division 293 tax for high income earners. Check if you need to report your super. under 18 years old, you pay it if they work more than. Contributing more than the caps to your super may mean having to pay extra tax. you exceed the concessional or non-concessional contribution caps. You can choose to make personal super contributions to save for your retirement. You must have a nominated (default) super fund and pay your employees super into this fund if: your employees do not choose a fund, or are not eligible to choose one, and. 1 min read. You were under 71 years old on 30 June 2022. Those are: the SG rate increased from 10% to 10. Super paid after a person's death is called a 'super death benefit'. The ATO guide to super contributions1 A Compedium of ATO publishings on superannution contributions Introduction 1 This compendium is a series of extracts from a variety of published ATO resources and represent the Commissioner’s view about the way in which provisions of the Superannuation Industry (Supervision) Act 1993 and the Income Tax. If you have more than one super fund, all your. super fund details before making a super contribution. 2. you exceed the concessional or non-concessional contribution caps. Sam will sacrifice. Individuals can re-contribute amounts they withdrew under the COVID-19 early release of super. Source:. Division 293 tax is charged at 15% of the excess over the threshold or the taxable super contributions, whichever is less. The annual cap for concessional contributions is $27,500 for the 2023–24 tax year. This is now reviewed annually to. If you are unable to access our ATO online services, you can check with your fund or phone us. 2 million to the Australian Taxation Office (ATO) in 2023–24. Your total income for 2021–22, was less than $56,112. Additional eligibility requirements were added from 1 July 2017 which includes: having a total superannuation balance of less than $1. The general concessional contribution cap is $27,500 per person. Terms and. phone on 13 10 20 between 8:00 am and 6:00 pm local time Monday to Friday. Contribution caps are the limits on how much you can pay into your super fund each financial year without having to pay extra tax. The super. Division 293 tax. Opinion. If Jenny and Tom’s house sold for $400,000, they could each contribute $200,000 to their super. Division 293 tax. the unique superannuation identifier (USI) of your employee's super fund. If an employee doesn’t provide you with the correct details, or the fund can’t accept your contributions, you will need to request their stapled super fund details from the ATO. For those earning more than $250,000, an additional 15% tax may be payable on some or all your concessional contributions. Key takeaways: Concessional contributions are contributions made into your super before-tax. (An exception is the ATO charges 30% if your income plus super is more than $250,000/year. Too easy! eligibility for the super co-contribution. If your income and concessional super contributions total more than $250,000, check if you have to pay Division 293 tax. You should also contact your super fund to discuss: the contributions that were made; how a contribution cap was exceeded. you're a high-income earner. To be eligible to make catch-up CCs, one criteria is your total super balance must be below $500,000 at the prior 30 June. Reportable employer super contributions (RESC). Super investment options. You may be able to claim a tax offset of up to $540 per year if you make a super contribution on behalf of your spouse (married or de facto) if their income is below $40,000. As a guide, employers contribute at least 11% of an employee's earnings to super. The ATO issues Vinnie with an excess non-concessional contribution tax assessment for $47,000 ($47% of $100,000). Tax and restrictions on contributions. Always confirm the details of any super contributions with your accountant or tax agent. You typically pay 15% tax on your super contributions, and your withdrawals are tax-free if you’re 60 or older. Maximum offset amount is reduced by $0. You must report extra super contributions you make for your employees to the ATO. These are generally: any contributions your employer made for you, including any salary sacrifice contributions. You may be able to elect to receive a late payment offset (LPO). The concessional contributions cap was temporarily increased to $35,000: for the 2013–14 financial year if you were 59 years or over on 30 June 2013. The tax offset for eligible spouse contributions can't be claimed for super contributions that you made to your own fund, then split to your spouse. If the ATO advises the employee does not have a stapled super fund, you can make the payment to yourWhat you need to do: Select your default super fund. Peter contributes $330 for the July to September quarter to Sue’s super fund by the quarterly due date of 28 October 2023. The clearing house is accessed via the ATO's Online services for business, Online services for agents or ATO online services in myGov. gov. Understanding the difference between concessional and non-concessional contributions and how they work is key to making the most of your super. They need to be reported to the Australian Taxation Office since the ATO uses them to calculate tax concessions, taxes, Centrelink benefits, and a range of other thresholds. you're a high-income earner. If you don't claim a tax deduction for them. You may be able to choose the super fund your SG contributions are paid into. You can boost your retirement savings by making voluntary super contributions, such as by: setting up a salary sacrifice arrangement with your employer. nominal interest of 10% per annum (accrues from the start of the relevant quarter) an administration fee of $20 per employee, per quarter. To be eligible to make catch-up concessional contributions the following must apply, noting that catch-up concessional contributions can be made on top of the annual concessional contributions cap ($27,500). Superannuation guarantee (SG) contributions for your employees are due by 28 October. The ATO website is getting a refresh soon. 5%. 7 million in super on June 30 of the previous financial year. au The total income used by the calculator to estimate the applicable Division 293 tax is equal to your annual salary before tax and before any salary sacrifice. If your total income is equal to or less than $43,445 in the 2023/24 financial year and you make after-tax contributions of $1,000 to your super fund, you’ll receive the maximum co-contribution of $500. If you pay a worker, you are also required to pay them super guarantee: Amount of pay – you pay it regardless of how much they are paid – their earnings amount is not relevant. super fund details before making a super contribution. The tax must be paid from the super fund and the ATO will issue a compulsory commutation notice to the fund who will pay the tax to the ATO. any personal contributions you made that you’ve advised. For 2021–22, the annual non-concessional contributions cap is $ $110,000 if your total superannuation balance on 30 June 2021 was less than $1. With SuperStream money and data are sent electronically in a standard format. a1. SuperStream. cannot be used as a contribution for the current quarter or future quarter's super contributions. Deductions. If your employee's details are incorrect, their super fund may:. . If you do not, it will be recorded. The actual amount of tax will depend on various factors such as your age, the. How To Claim The Superannuation Co-contribution. phone 1800 199 010 between 8:00 am and 6:00 pm, Monday to Friday (local time), except national public holidays. Module 5: Paying super contributions. Her total super balance is under the $1. These contributions must be reported annually to the ATO, but compulsory super payments like your quarterly SG contributions. Contributing more than the caps to your super may mean having to pay extra tax. The minimum SG is calculated as a percentage of each eligible employee’s earnings (ordinary time earnings) to a complying super fund or retirement. You may be eligible to receive the low income contribution if you: receive. Super contributions to defined benefit and constitutionally protected funds Find out about caps on contributions to defined benefit funds and constitutionally protected (CPF) funds. If your spouse is also 55 or older, you can add up to $600,000 in total between the two of you. For more information on Treasury’s. How to personalise your tax return. The investment earnings on your super are also only taxed at 15%. Once the contribution is made, you will have the option of claiming it as a tax deduction. The SG rate on the date the salary is paid applies. More information on ordinary time earnings (OTE) is available from the Australian Taxation Office (ATO) at ato. Your employer must pay SG contributions into your super account at least every three months. EFT or BPAY direct to the fund Example: 2 part tax offset for spouse super contributions. You will need either your gross salary figure or your wage less any overtime earnings for the period you are trying to obtain a super estimate for. Your superannuation investment grows through: your employer's compulsory super guarantee contributions (concessional contributions) any voluntary contributions out of your pre-tax income, such as salary sacrifice and personal contributions you're allowed as an income tax deduction ( concessional contributions). Find out about caps on contributions to defined benefit funds and constitutionally protected (CPF) funds. Adding to your super. au Your entitlement to super as a worker, how to make extra voluntary contributions, and how to keep track of your super. Division 293 tax may reduce the tax concession on super contributions for individuals. Division 293 tax may reduce the tax concession on super contributions for individuals. Paying super contributions for eligible employees, including how much to pay, how to pay and payment dates. It will help you work out the SG sub-totals of each individual superannuation fund and the total of all contributions payable. You may have to pay more tax if you exceeded the non-concessional contributions cap. 28 July. Peter contributes $330 for the July to September quarter to Sue’s super fund by the quarterly due date of 28 October 2023. For quarters beginning on or after 1 January 2020, a salary-sacrificed contribution cannot be offset against the SGC. Estimated employer SG based on Income. The Super guarantee (SG) contributions calculator tool helps you work out the superannuation guarantee amount to pay to your employee's super fund. The fundamentals behind the ‘carry forward’ unused cap rules are outlined below. You can ask your super fund to transfer up to 85% of a financial year’s ‘taxed splittable contributions’ to your spouse. The non-concessional contributions cap is the maximum amount of after-tax contributions you can contribute to your super each year without contributions being subject to extra tax. Use the super contributions calculator to work out the best way to boost your super. Step 4: Report unpaid super. 6 million on 30 June of the year before. Enter Income (including any salary sacrifice amounts) 2. 2 million to the Australian Taxation Office (ATO) in 2023–24. Module 6: Correcting late super payments. How to personalise your tax return. Contribution caps are the limits on how much you can pay into your super fund each financial year without having to pay extra tax. Concessional contributions can come from several sources, these being from your employer, from pre-tax salary. It's a tax-free contribution even if only one of you is listed as an owner. Super contributions. select Australian Taxation Office. 5% in 2022–23). DinahUse the Super guarantee opt out for high income earners with multiple employers form (NAT 75067) to apply for a SG employer shortfall exemption certificate. Your total superannuation balance at 30 June 2021 was less than $1,600,000. If your income and super contributions combined are more than $250,000, you pay Division 293 tax, an extra 15%. a. If you meet the eligibility requirements, you can have these voluntary. The concessional contributions cap was temporarily increased to $35,000: for the 2013–14 financial year if you were 59 years or over on 30 June 2013. The ATO calculates if you are eligible for a co-contribution payment and pays the amount directly into your super account. the maximum co-contribution entitlement was set at $500. Find out about caps on contributions to defined benefit funds and constitutionally protected (CPF) funds. 1 min read. Step 4: Report unpaid super. How super fund members can claim or vary a deduction for personal contributions made after 1 July 2007 (NAT 71121). You may be able to choose the super fund your SG contributions are paid into. If your income and concessional super contributions total more than $250,000, check if you have to pay Division 293 tax. DECEMBER 2022 Page 1 of 4 Claiming a tax deduction for personal super contributions CLAIM A TAX DEDUCTION 1 Complete the Notice of intent form on pages 3 and 4. After-tax super contributions are a great way to invest the extra money from a pay rise, bonus or inheritance. For more information, see: Non-concessional contributions cap. 7 million. At the Income tests heading: Enter at Tax-free government pensions or benefits the total amount of tax-free pensions and benefits you received during 2021–22. The ATO sends an excess non-concessional contributions tax release authority to Vinnie's super fund instructing them to release $47,000 from his super. Last modified: 02 Aug 2023 QC 73085. salary and wages to work out the super guarantee charge. Deductions for personal super contributions. Your 15% contributions tax on this amount is $567 (which is paid by your super fund to the ATO). You need to calculate super contributions at 11% for your eligible workers for payments of salary and wages you make from this date. Division 293 tax is an additional tax on super contributions, reducing the tax concession for individuals whose combined income and concessional contributions for Division 293 purposes is more than $250,000. Super contributions to defined benefit and constitutionally protected funds. If you don't meet your super guarantee (SG) obligations, you may have to pay additional penalties or charges on top of the super. Julie lodges an income tax return which includes tax deductions of $1,000, resulting in an adjusted taxable income of $31,000 ($32,000−$1,000). The clearing house distributes the payment to each employee's super fund according to your instructions. a deduction for personal super contributions form available at ngssuper. Module 2: Working out if you have to pay super. Instructions; More information If you were under 67 years of age during the financial years 2020–21 and 2021–22, your fund could accept all types of contributions. Note: A nomination to offset late payments is binding and cannot be changed. A member who intends to claim a deduction must notify you of this intent. If they fail to do so,. These concessional contributions are taxed in the super fund at a rate of 15%, which is generally less than your marginal tax rate. sign in to myGov. Find, recover and consolidate lost super. Super investment options. If you had a spouse for the full year, 1 July 2021 to 30 June 2022, print X in the Yes box at L. Rates and thresholds apply to contributions, employment termination payments, super guarantee and co-contributions. If the ATO advises the employee does not have a stapled super fund, you can make the payment to yourSuper is an investment in your future. For most people, super begins when you start. Super co-contributions work by the ATO adding up to $500 to your super fund if you have made any non-concessional contributions, again, subject to you meeting certain eligibility criteria. Your employer will pay your super contributions into either: your existing super fund, which is called a stapled super fund; their default super fund. your spouse. Paying your employees the right amount of super. 20 =$7,000) and. 18 years or older, you pay it regardless of how many hours they work. For example, people earning between $45,001 and $120,000 pay a marginal tax rate of 32. For example, if you want to make a carry-forward concessional contribution in 2023–24, your TSB must have been under $500,000 on 30 June 2023. Reportable superannuation contributions are contributions made into superannuation over and above mandated super contributions. Between 1 July 2020 and 30 June 2022, you could accept. This may occur, for example, if the account has since been closed or a defined benefit account won't accept your contributions. Contributions you make to your spouse's super are treated as their non-concessional contributions, whether or. Maximum spouse contributions eligible for the tax offset. Division 293 tax may reduce the tax concession on super contributions for individuals. 28 April. phone the National Relay Service on 13 36 77 (if you have a hearing, speech or communication impairment). Up to a full tax offset of $540 (actual amount is calculated as 18% of the lesser of $3,000 and your total contributions for your spouse) Between $37,000 and the cut-off threshold of $40,000. Your employer is required to make SG contributions into your super account of $3,780 ($36,000 x 10. the maximum co-contribution entitlement was set at $500. To claim a deduction, you must first give your super fund or RSA provider a valid notice of intent and receive an acknowledgment form from your fund or RSA provider. This lets us know the amount you’d like to claim. If you make contributions from your after-tax income — known as non-concessional contributions — you don't pay any contributions tax. Super contributions to defined benefit and constitutionally protected funds. gov. Your foreign employment income isn't taken into account in working out your entitlement to a deduction for personal super contributions, however you still need to meet the other eligibility. If employees do have the power to vary their employer contribution rate, the amounts over any compulsory contributions made will be reportable employer super contributions.