A tax-effective investment
Super is a tax-effective investment environment.
Making additional after-tax contributions to super offers a number of benefits. If you earn less than than $51,021 per year you may be eligible for a government co-contribution, and if you're self-employed you can claim a tax deduction on contributions.
Making after tax contributions
Growing your super with voluntary after tax contributions has never been easier. You can:
1. Pay online using BPAY. The easiest and quickest method. Your BPay details are available by logging into your Equip online account.
2. Pay via cheque. Just complete and return the voluntary contributions form and mail it to: Equip, GPO Box 4303 Melbourne VIC 3001 (Please make your cheque payable to 'Equipsuper').
Do you qualify for a Government co-contribution?
If you are a low to middle income earner and make after-tax contributions during the financial year, you may be eligible for a Government contribution of up to $500 a year. You can find out more about how the Government co-contribution works here.
How much can I contribute?
There are limits, also known as contribution caps, on the amount of after-tax income you can pay into your super each financial year. The current limit is $180,000 per year, and a member can roll forward three years worth of contributions, for a maximum of $540,000. Please note these figures were flagged in the last federal budget, and may change in the future.
While you can contribute money beyond your contribution cap, this has tax implications.