after-tax super contributions
Boost your super with extra super contributions from your take-home pay or savings. It’s never too late to start. A little extra today can go a long way tomorrow.
On this page:
Other ways to make contributions into your super
Bank transfer
Log in to your account to get our account details and your payment reference number to make a contribution by bank transfer.
Direct debit form
Complete the Member direct debit form to set up a direct debit from your bank account into your HESTA account.
Deposit by cheque
Complete the Member contribution deposit form to make a contribution by cheque.
who can make after-tax contributions into super?
Most people can make after-tax contributions into their super account. You'll just need to ensure that:
- You meet the work test requirements: if you're over age 67, you'll need to meet the government's work test requirements (visit the ATO website for more on the work test).
- You haven't gone over the 'contributions cap': the contributions cap is a limit on the amount of after-tax contributions you can make into your super account/s each financial year. The contributions cap for after-tax contributions (also known as non-concessional contributions or voluntary contributions) is $110,000 for the 2021-22 financial year. Find out more about the contributions cap in How your super is taxed (pdf).
see the difference an extra $20 a week into your super can make
Regular contributions of $20 (or less!) could make a real difference to your super balance in years to come. Every little bit you put into your super now is invested and, over time, can really grow your savings.
See the benefits of making regular contributions into your super account.
Meet Tom, Sue and Jill
- Aged 25 and plan on working until age 67
- Each earn $45,000 per annum
- Start with no money in their super account
Tom
Tom doesn't make any extra contributions to his super
Super contribution: Super Guarantee only from age 25
Tom's super balance at age 67:
Sue
Sue contributes $40 extra per week from age 45
Super contribution: Super Guarantee plus $40 per week from age 45
Sue's super balance at age 67:
Jill
Sue contributes $20 extra per week from age 25
Super contribution: Super Guarantee plus $20 per week from age 25
Jill's super balance at age 67:
The difference
Jill retires with the most super savings: $483,000.
That’s $79,000 more than Tom and $45,000 more than Sue.
Sue contributes twice as much per week than Jill, but she still retires with less. Why is this? Because Sue started contributing much later than Jill, she hasn’t been able to catch up.
Jill and Sue are, of course, both far better off than Tom who didn’t put anything extra on top of his employer super contributions at all.
*Assumptions based on: Superannuation Guarantee (SG) rate assumed at 9.5% each year until 1 July 2021 when the rate increase by 0.5% per annum until it reaches and stays at 12% from 1 July 2025 onwards. Rate of return on investment of 6.0% after investment fees, costs and taxes. The final amount does not take into consideration any administration or additional fees. All figures are rounded to nearest dollar. $20 per week after-tax contribution and Medicare Levy, assumes LISTO and Government co-contribution payable to age 67. Contributions received quarterly. LISTO received at the end of each year. Tax on earnings and contributions applied at 15%. Salary indexed at 2.5%. Inflation applied at 2.5% to calculate Future Value, all figures in today’s dollars.
Issued by H.E.S.T. Australia Ltd ABN 66 006 818 695 AFSL 235249, the Trustee of Health Employees Superannuation Trust Australia (HESTA) ABN 64 971 749 321. Investments may go up or down. Past performance is not a reliable indicator of future performance. This information is of a general nature. It does not take into account your objectives, financial situation or specific needs so you should look at your own financial position and requirements before making a decision. You may wish to consult an adviser when doing this. Before making a decision about HESTA products you should read the relevant product disclosure statement (call 1800 813 327 or visit hesta.com.au/pds for a copy) and consider any relevant risks (hesta.com.au/understandingrisk). HS 1492.1 01/21 ISS1
claiming a tax deduction on your after-tax super contributions
You may be able to claim a tax deduction for any after-tax super contributions made into your account.
The contributions you claim a tax deduction for are considered before-tax contributions (also known as concessional contributions). This means they’re taxed at 15% and count towards your concessional contributions cap. The concessional contributions cap for 2021-22 financial year is $27,500.
How to make a claim
To claim a tax deduction on your after-tax contributions, you’ll need to:
- Complete this ATO form. This will tell us the amount you’ll want to claim.
- Mail it to us. We need to receive and check your form, then let you know it's valid (whichever of the below comes first):
- the date you lodge your tax return, OR
- the last day of the financial year after the contribution was made, OR
- you withdraw your super from HESTA, OR
- you commence an Income Stream.
- If we’ve let you know the notice is valid, submit your tax return.
You’ll need your HESTA member number and some of our fund details to complete the form:
- Fund name: HESTA
- Business ABN: 64 971 749 321
- USI (unique superannuation identifier): HST0100AU
Send the notice of intent form back to us via:
- Email: hesta@hesta.com.au OR
- Post: HESTA, Locked Bag 5136, Parramatta NSW 2124.
you might also be interested in ...
Government co-contributions
Could your super savings get a $500 boost from the government? Find out if you’re eligible for a co-contribution. That’s where if you put some money in, the government could too.
Contributions calculator
Work out whether to make contributions before or after tax—or a mix of both—with ASIC's Moneysmart Super contribution optimiser tool.
Spouse contributions
If you’re not working, are the main caregiver for your family or you’re working part-time, your spouse or partner may be able to make extra contributions for you.
Need some expert help with contributions?
Our super advisers can help work out a regular or lump sum contribution strategy that's right for you. You can see a super adviser at no extra cost: it’s all part of being with HESTA.