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Get a super tax break

Add to your super by 27 June to make the 30 June 2023 deadline.

Making extra contributions can be a great way to grow your super balance. And you might be able to reduce your tax, or claim the government super bonus. If you can afford to, here’s why you should consider topping up your super before 27 June1.

It’s easy to do online

Make a contribution, or complete a 'Notice of Intent to claim a tax deduction' form online in a few minutes.

Boost your super

Grow your super through extra contributions. A bit extra now could add up to a lot more later.

Maximise your contributions

You may be eligible for a super bonus from the government or may benefit from claiming a tax deduction.

Help yourself to a super boost

Adding money to your super after you have already paid tax on it (from your take home pay) is called an after-tax contribution. It can be a great way to grow your super balance.

It’s quick and easy to make a contribution online. Make your contribution before 27 June to ensure it counts for the 2022-23 financial year.

Here are the various ways you can make a personal contribution. Depending on your situation, you may be eligible for a bonus from the government (called a co-contribution) or you may be better off claiming a tax deduction, and saving on tax.

You could be eligible for the $500 government super bonus

By adding to your super before 27 June you could qualify for a government co-contribution of up to $500. Adding extra to your super now could add up to a lot more later.

If you earn $42,016 or less, the government will match 50 cents for every dollar you contribute from your after-tax pay (at the end of the financial year), up to a maximum co-contribution of $500. The amount the government will chip in reduces as your total income increases, and cuts out at $57,016. It’s important to note there are other criteria you need to satisfy to be eligible.

Top up and claim a tax deduction online

If you earn more than $57,016, you can top up your super before 27 June and complete your ‘Notice of Intent to claim a tax deduction’ form online, in a few minutes. It’s a great way to grow your super balance and could reduce your tax.

It’s important to note that if you claim a tax deduction for a contribution, it won’t count towards any co-contribution you might otherwise be eligible for. You should also be mindful of the contribution caps that apply.

Want to save on tax?

You may be able to increase your super balance while reducing your tax. How it works is simple. If you claim a tax deduction, the contribution is treated as a before-tax contribution, and no longer counts towards your taxable income. It’s generally taxed at 15% in your super account, which may be lower than your marginal rate (which can be up to 45%)2.

It’s quick and easy to claim a tax deduction – you can complete your ‘Notice of Intent to claim a tax deduction’ online in a few minutes. Make sure you read about the contribution limits below.

The benefits of adding to your super 

See how topping up her super helps Mary

45-year-old Mary earns $80,000 a year. By topping her super up by an extra $3,000, she saves $585 on tax now. Plus, she’ll have an extra $4,000 in her super account at retirement3.

Understanding contribution limits

There are limits on how much you can pay into your super fund each financial year. These limits are called 'contribution caps'. There are separate limits for personal after-tax contributions, and for before-tax contributions - these are referred to as the ‘non-concessional contributions cap’ and the ‘concessional contributions cap’.
If you have more than one super fund, all your contributions are added up and count towards your caps. If you go over these caps, you may need to pay extra tax.

There are also age limits you need to be aware of. You need to be under age 75 to make extra before-tax or after-tax contributions, and to claim a tax deduction for an after-tax contribution after age 67, you need to meet the ‘work test’ or ‘work test exemption’ - visit to find out more.

If you have a super balance under $1.7 million, you can make after-tax (non-concessional) contributions of up to $110,000 this year.

There’s a special rule that enables members to ‘bring forward’ up to three years’ worth of contributions. That means you could contribute up to $330,000 in a single financial year. 

If you claim a tax deduction for after-tax contributions, they will no longer count towards the non-concessional contributions cap – the concessional contributions cap will apply. 


All your before-tax contributions count towards this cap. This includes compulsory contributions made by your employer, salary sacrifice contributions, and after-tax contributions for which a tax deduction is claimed. This cap is $27,500 for 2022-23, though if your total super balance is under $500,000, you may be able to 'bring forward' unused cap amounts from previous years. You can find out more at 

Learn more 

Helping you understand market ups and downs

There is a lot of noise about inflation and market volatility right now, so it's natural you have questions, and want to feel more confident about your super and where it’s headed.

You might have questions about how we invest your money? What impact do external factors like inflation have... (or, what even is inflation?) What are my investments doing, and do I need to switch? We want to make understanding market ups and downs - and super - effortlessly simple, so here’s the important bits you need to know.

Find out more

Damien Webb: Hi, I'm Damien with a quick update on what's happening with the market and what it means for your super. We've seen markets continue to move as investors react to what's in the news. While these financial wobbles can feel unsettling for our members, history tells us to expect them and we always factor these into our investment approach. So let's take a closer look at the reasons behind these market movements and what we're doing about it

No doubt you've noticed the cost of things like food and electricity going up. That's because of inflation, which can hit pockets hard and has been more difficult to control than many economists expected. Central banks like the Reserve Bank of Australia and the US Federal Reserve have lifted interest rates as they try to slow down spending and keep inflation in check. Now the big question... Is it working? Well, there are reassuring signs it is. And if the RBA agrees, it may pause rate rises like it did in early April. But only time will tell if inflation is coming back down.

You might have heard about the collapse of the Silicon Valley Bank of the United States, followed by problems at Credit Suisse, which is a much larger Swiss bank. Regulators and governments quickly stepped in to reassure clients that money was safe and markets have since settled down. To investors it seems a banking crisis has been avoided and many believe that the peak of inflation is over. One of the best ways to see your super through and back on the up is to invest in a variety of quality assets, which is exactly what we do. While it's tempting to focus on your returns as they stand today, super is best understood by taking a step back. As an example, let's look at the last three years of performance of some of our investment options. In the 2021 financial year, we saw extraordinary returns, more than 20% for some options. Last year was more disappointing and challenging markets saw negative returns. For this financial year, which ends on 30 June, our returns have so far been positive for most options. This is a great lesson in the reality of investing.

Over the years your super's invested we expect to see times of performance isn't as strong. Here it helps to see super as a long game. If we look at the last ten years, we see that a high growth option had returns over 9.4% per annum, while our balanced growth pension option, where most of our retirees are invested, had returns of 7.2% per annum.

We're always looking for better ways to grow your super. So we've decided to open an office in London, where I'll be moving with my family to head up our international team. By being closer to the markets in the UK and Europe, we can give you greater access to global opportunities, not easily reached from here in Australia, and we expect these opportunities will help enhance your returns over the long term. Naturally, we'll continue to invest as efficiently as possible so our member fees and costs stay down. And now I'd love to introduce you to Anjana Moran of our property team, a colleague of mine who's can introduce to a really exciting new property investment we've made for the benefit of our members.

Anjana Moran: Thanks, Damien. Hi, I'm Anjana and I help decide which property investments will deliver the best returns for you. Investing in property helps to protect your super by making your portfolio more diverse. Returns and direct property usually come from rental income and from growth in the property's value. Another benefit is that direct property values tend not to move up and down as much as other investments like shares, which can help keep your returns more stable.

We've recently bought a 22% stake in a company called Get Living, a build to rent platform based in the U.K. Built to rent buildings are designed to be rented over the long term rather than sold to individuals. Often they're developed by large investors like us, who then continue to own the building and rent out the apartments. Get Living is the second largest build to rent operator in the UK and currently owns and rents around 4000 homes in six neighbourhoods across London and Manchester. It also has plans for 6500 new developments so it's set to grow strongly over the next few years.

We're really excited about Get Living and as it grows, you should benefit from its growth if you're invested in our core and socially conscious, diversified options. If you want to find out more about how the markets work, you can sign up for a webinar or talk to an advisor. Head to our website to get started.



Everyone's situation is different, and we can't tell you whether you should add to your balance as we haven't considered your financial situation. So, before making additional contributions, you should consider your own personal circumstances and if this is the right thing for you.

1 Contribution limits apply. For 2022-23, personal contributions are subject to the ‘non-concessional contributions cap’ of $110,000 (unless your total super balance is over $1.7 million, in which case the cap is zero). When you claim a tax deduction, this changes. 15% contributions tax is deducted, and the amount you claim is instead subject to the ‘concessional contributions cap’ of $27,500 (which includes employer contributions), though you may be able to ‘carry forward’ unused cap amounts from prior years.

2 An additional 15% may apply to your contributions if your combined income and before-tax super contributions is over $250,000.

3 Retirement balances are rounded to the nearest $1,000 and are stated in today's dollars, deflated using Average Weekly Ordinary Time Earnings (AWOTE) at 4.0% p.a. Retirement age is assumed to be 67. Based on SG of 10.5% for 2022/23 and then increasing each financial year by 0.5% until it reaches 12% on 1 July 2025 (where it will remain at 12%). Based on 2022/23 income tax rates. Investment returns are based on the Aware Super MySuper Lifecycle option, assumed to be CPI + 4% p.a. until age 55, reducing from CPI + 4% p.a. to CPI + 3% p.a. between the ages 55-65 (inclusive) and CPI + 3% p.a. from age 65 onwards. CPI is assumed to be 2.5% p.a. Long-term CPI is assumed at 2.5% p.a. Insurance premium is assumed to be the average for members with default insurance arrangements, indexed with AWOTE of 4% p.a. This example is for illustrative purposes only and is not intended to provide a forecast or guarantee on outcome. It is a broad illustration of the steps a member could take, but the actions appropriate for an individual will vary depending on their personal circumstances. The case study is based on current regulatory requirements and laws, including tax rates, which may be subject to change. Investment return assumptions are for illustrative purposes only and for simplicity assume an CPI plus investment objectives as the return each year throughout the investment period. Actual returns year on year may vary materially and could be negative. If investment returns/inflation are higher/lower, final balances will differ.