Types of contributions
Work out which type of contributions will help give your super the biggest boost.Try the MoneySmart Super Contributions Optimiser
Did you know you might be able to claim a tax deduction if you’ve made a personal after-tax (non-concessional) contribution to your super? This could mean you get something back when you complete your tax return.Claim a deduction
When you make a personal after-tax (non-concessional) contribution to your super, you’ve already paid tax on it, usually at your marginal tax rate. But claiming a tax deduction on your contribution generally reduces the amount of tax you pay on that contribution to 15%. This is the amount of tax you’d usually pay on before-tax (concessional) contributions, like salary sacrifice.
Claiming a tax deduction on your after-tax contribution essentially changes it to a before-tax contribution. This means it will count towards the annual concessional contribution cap of $27,500. The concessional contributions cap includes employer contributions, as well as any salary sacrifice contributions you make.
It’s important to keep an eye on how you’re tracking against the concessional contribution cap. Going over the cap means any excess amount is included in your assessable income and taxed at your marginal rate.
Log in to your account to monitor your HESTA contributions and see how you're tracking against the contributions cap.
Learn more about tax on contributions in How super is taxed (pdf).
The fastest way to claim a tax deduction on your after-tax contributions is to complete the Notice of intent in your online account.
You should submit your Notice of intent to claim a tax deduction:
To claim a tax deduction on your after-tax contributions, you’ll need to:
From 1 July 2022, you’ll need to meet the government’s work test to claim a deduction on your personal contributions if you’re between 67 and 75 years of age.
If you prefer, you can claim your tax deduction through the ATO. You’ll need to:
Completing your notice of intent
To complete your notice of intent, you’ll need the following details:
Send your notice of intent back to us via: