end of financial year contributions

There's still time to contribute this financial year.  

Get your BPAY^® contributions in by 24 June 2025^*.

You can find your BPAY details in the ‘Contribute extra’ section of your online account or the HESTA App.

Log in to get your BPAY details

* This date is a guide only and is not a guarantee your contribution will be received before the end of the 2024-25 financial year due to varying bank processing times. If you’d like to contribute for 2025-26 financial year, you’ll need to make your contribution after 1 July 2025.

things you should know about after-tax contributions

Most people can make after-tax contributions into their super account but here are some things you should know. 
 

• Check to make sure you haven't gone over the 'contributions cap': the contributions cap is a limit on the total 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) is $120,000 for the 2024-25 financial year. If you go over the cap, you may pay extra tax on your contributions.  Log in to your myGov account to see how you’re tracking against your cap. 

• The contributions cap applies across all your super accounts, including any accounts with other super funds. If you have accounts with other super funds, you’ll need to ensure your total amount of after-tax contributions across all your funds does not exceed the $120,000 contributions cap.  

• Eligible individuals may ‘bring forward’ two future years of contributions caps and make a larger contribution. Eligibility to ‘bring forward’ will depend on your age and total super balance. Go to ato.gov.au/super to see if you’re eligible and what your caps might be.  

• If your total super balance (across all your super funds) was $1.9m or more at the start of this financial year, you should seek financial advice before you contribute any after-tax earnings to your super as there may be tax consequences. 

• Make sure you’ve supplied us with your tax file number (TFN) so we can accept your after-tax contributions. To check, or to supply us with your TFN, log in to your account.

   

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.

Claiming a tax deduction on your after-tax contribution essentially changes it to a before-tax contribution. This means it will count towards the 2024-25 concessional contributions cap of $30,000.  
 

When to claim a tax deduction 

You should submit your notice of intent to claim a tax deduction: 

• before you submit your tax return for the income year in which the after-tax contribution was made, or 

• before the end of the following financial year in which the after-tax contributions were made, and

• before you withdraw or transfer funds, this includes transferring to an income stream account.

How to claim a tax deduction  

To claim a tax deduction on your after-tax contributions, you’ll need to:

1. Complete the ATO notice of intent form. This tells us the amount you want to claim.

2. Post or email the completed notice of intent form to us. We need to check your notice when we receive it and then we’ll let you know it’s valid. You must receive notification from us that your notice of intent is valid:

   • before you submit your tax return for the income year in which the after-tax contribution was made, or  

   • before the end of the following financial year in which the after-tax contribution was made, and 

   • before you withdraw or transfer funds, this includes before commencing an income stream. 

3. If we’ve let you know that your notice is valid, you can submit your tax return.

Completing your notice of intent

To complete your notice of intent, you’ll need the following details:

• Your HESTA member number

• Fund name: HESTA 

• Business ABN: 64 971 749 321

• USI (unique superannuation identifier): HST0100AU

Send your notice of intent back to us via:

• Email: hesta@hesta.com.au OR 

• Post: HESTA, Locked Bag 35007 Collins St West VIC 8007.

®Registered to BPAY Pty Ltd ABN 69 079 137 518