About
Personal Super Contributions
Everything you need to know about personal super contributions
What is a personal contribution?A personal contribution is a contribution that you make to your super fund from your after-tax wages.see more
A personal contribution is a contribution that you make to your super fund from your after-tax wages.
How do I make a personal contribution?All you need to do is:- Log in to your Professional Super account
- Select “Make a contribution” from the menu
- For personal contributions, this is the first option. Use the BPAY details to transfer the money into your super account.
We’ll send you an email to let you know that your contribution’s been received.
All you need to do is:
- Log in to your Professional Super account
- Select “Make a contribution” from the menu
- For personal contributions, this is the first option. Use the BPAY details to transfer the money into your super account.
We’ll send you an email to let you know that your contribution’s been received.
What’s a non-concessional contribution?A non-concessional contribution is another term for a “personal contribution”. It's the terminology used by the ATO on its website.
A non-concessional contribution is another term for a “personal contribution”. It's the terminology used by the ATO on its website.
I made a personal contribution, can I claim a tax deduction?If you’ve made a personal contribution, you could be eligible to claim a tax deduction if the total of your concessional contributions is less than the cap. The concessional contribution caps are:- $30,000 per financial year, from 1 July 2024
- $27,500 per financial year, between 1 July 2021 - 30 June 2024
- $25,000 per financial year between 1 July 2017 to 30 June 2021
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If you’ve made a personal contribution, you could be eligible to claim a tax deduction if the total of your concessional contributions is less than the cap. The concessional contribution caps are:
- $30,000 per financial year, from 1 July 2024
- $27,500 per financial year, between 1 July 2021 - 30 June 2024
- $25,000 per financial year between 1 July 2017 to 30 June 2021
What’s a concessional contribution?A concessional contribution is an amount that’s been added to your super fund either:- aBefore tax e.g. the SG contribution that your employer pays into your super fund or salary sacrifice contributions.
- bAfter-tax and you’ve claimed a tax deduction.
A concessional contribution is an amount that’s been added to your super fund either:
- aBefore tax e.g. the SG contribution that your employer pays into your super fund or salary sacrifice contributions.
- bAfter-tax and you’ve claimed a tax deduction.
How do I claim a tax deduction for my personal contribution?There are two parts:- Notifying us as your fund
- Including the deduction in your tax return
We’ve made it easy for Professional Super members to notify us:- Follow the steps to make a personal contribution. Once this has been received, it will unlock the ability to submit a “Notice of Intent” from your account online. This will appear after 1 July for the financial year that has just passed.
- Use this online form to let us know how much you would like to claim as a tax deduction.
Then, to complete your tax return:- Check your inbox – we will send you the details that you need to include in your tax return.
- Include the deduction in your tax return under “Personal Super Contributions”.
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There are two parts:
- Notifying us as your fund
- Including the deduction in your tax return
We’ve made it easy for Professional Super members to notify us:
- Follow the steps to make a personal contribution. Once this has been received, it will unlock the ability to submit a “Notice of Intent” from your account online. This will appear after 1 July for the financial year that has just passed.
- Use this online form to let us know how much you would like to claim as a tax deduction.
Then, to complete your tax return:
- Check your inbox – we will send you the details that you need to include in your tax return.
- Include the deduction in your tax return under “Personal Super Contributions”.
What happens if I claim a deduction for my personal contributions?- When you complete your tax return, your deductions will reduce your taxable income and therefore the amount of tax that you are required to pay.
- Your personal contributions will be taxed at 15% (because it’s now a concessional contribution). This amount will be withheld from your super account.
- You may be eligible for a low income superannuation tax offset on the tax paid on the contribution.
- You won't be eligible for a Government co-contribution in relation to the personal contribution.
- The personal contributions will count towards your reportable super contributions. This may affect your income for the purposes of some Government benefits and obligations.
- When you complete your tax return, your deductions will reduce your taxable income and therefore the amount of tax that you are required to pay.
- Your personal contributions will be taxed at 15% (because it’s now a concessional contribution). This amount will be withheld from your super account.
- You may be eligible for a low income superannuation tax offset on the tax paid on the contribution.
- You won't be eligible for a Government co-contribution in relation to the personal contribution.
- The personal contributions will count towards your reportable super contributions. This may affect your income for the purposes of some Government benefits and obligations.
How much can I add to my account as a non-concessional contribution?The non-concessional caps are:- $120,000 per financial year, from 1 July 2024
- $110,000 per financial year, between 1 July 2021 to 30 June 2024
- $100,000 per financial year if the contribution was made between 1 July 2017 to 30 June 2021
You could be eligible to use the “bring-forward” rule which allows you to bring forward up to two years of future entitlements over a three year period. For more information, see the ATO website for eligibility.
The non-concessional caps are:
- $120,000 per financial year, from 1 July 2024
- $110,000 per financial year, between 1 July 2021 to 30 June 2024
- $100,000 per financial year if the contribution was made between 1 July 2017 to 30 June 2021
You could be eligible to use the “bring-forward” rule which allows you to bring forward up to two years of future entitlements over a three year period. For more information, see the ATO website for eligibility.
How much can I add to my account as a concessional contribution?The concessional contribution caps are:- $30,000 per financial year from 1 July 2024
- $27,500 per financial year between 1 July 2021 to 30 June 2024
- $25,000 per financial year between 1 July 2017 to 30 June 2021
For example, if your employer paid $10,000 to your super account, you could add an additional $20,000 to your super fund as a concessional contribution.
The concessional contribution caps are:
- $30,000 per financial year from 1 July 2024
- $27,500 per financial year between 1 July 2021 to 30 June 2024
- $25,000 per financial year between 1 July 2017 to 30 June 2021
For example, if your employer paid $10,000 to your super account, you could add an additional $20,000 to your super fund as a concessional contribution.
If I make a concessional contribution will I be eligible for the super co-contribution?No. Only personal non-concessional contributions are eligible for the co-contribution.For more information about eligibility requirements see the ATO website.
No. Only personal non-concessional contributions are eligible for the co-contribution.
For more information about eligibility requirements see the ATO website.
Do concessional contributions count towards the First Home Super Saver Scheme?Yes. Voluntary concessional contributions (like salary sacrifice contributions) and voluntary non-concessional contributions count towards the money that can be withdrawn from your super account as part of the First Home Super Saver Scheme.When you are making a contribution, choose the “A personal contribution made by me” option if you would like to contribute towards the First Home Super Saver Scheme.For more information about eligibility requirements see the ATO website.
Yes. Voluntary concessional contributions (like salary sacrifice contributions) and voluntary non-concessional contributions count towards the money that can be withdrawn from your super account as part of the First Home Super Saver Scheme.
When you are making a contribution, choose the “A personal contribution made by me” option if you would like to contribute towards the First Home Super Saver Scheme.
For more information about eligibility requirements see the ATO website.
Do personal non-concessional contributions count towards the First Home Super Saver Scheme?Yes. Voluntary non-concessional contributions and voluntary concessional contributions (like salary sacrifice contributions) count towards the money that can be withdrawn from your super account as part of the First Home Super Saver Scheme.When you are making a contribution, choose the “A personal contribution made by me” option if you would like to contribute towards the First Home Super Saver Scheme.For more information about eligibility requirements see the ATO website.
Yes. Voluntary non-concessional contributions and voluntary concessional contributions (like salary sacrifice contributions) count towards the money that can be withdrawn from your super account as part of the First Home Super Saver Scheme.
When you are making a contribution, choose the “A personal contribution made by me” option if you would like to contribute towards the First Home Super Saver Scheme.
For more information about eligibility requirements see the ATO website.
I don’t have a TFN, can I make a personal contribution?No. We can only accept contributions for members that have provided their TFN.You can apply to the ATO for a TFN here.
No. We can only accept contributions for members that have provided their TFN.
You can apply to the ATO for a TFN here.
Can I change the amount I wish to claim as a tax deduction?Yes. You can reduce the amount claimed on your previous notice online by clicking on “Make a contribution” in the member portal.see more
Yes. You can reduce the amount claimed on your previous notice online by clicking on “Make a contribution” in the member portal.
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This is general information only and does not take account of your personal objectives, financial situation or needs. Before acting on it, consider if the information is appropriate and whether you need to speak to an accredited professional. When considering financial returns, past performance is not indicative of future performance.
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