Post-tax contributions
You can boost your super by making contributions from your take home pay or savings. These are called post-tax or non-concessional contributions.
Make contributions when it suits you
Post-tax contributions are an easy way to put any extra money into your super and utilise your annual contribution caps. You can make one-off or ongoing contributions and in some cases you may be able to claim a tax deduction or even qualify for a free government co-contribution.
Contribute via BPAY
You can use our BPAY number generator to get your unique reference number and make contributions into your account. You can then also share your BPAY number with your spouse or other family members that want to contribute to your account.
Contribute via Direct Debit
To make a one-off contribution between $10,000 and $330,000 you can do so via our Direct Debit facility.
Contribute via cheque
If you’d prefer to send us a cheque you can use the Member & Spouse Contribution form. Please note that contributions via cheque will take more time to enter your account.
Claiming a tax deduction
Individuals under 75* (including people aged 67 to 74 years who meet the work test or work test exemption) are eligible to claim a deduction for personal super contributions made to an eligible super fund. Amounts you claim a tax deduction for count towards your pre-tax (concessional) cap.
Government co-contribution
If you earn up to $58,445 and make post-tax contributions to your super you may qualify for the government co-contribution. Under this initiative, the government tops up 50 cents for every $1 that you contribute, up to a maximum of $500 each financial year.
COVID-19 early release super amount re-contribution
If you received a COVID-19 early release of super amount, you can re-contribute up to the amount you received without these contributions counting towards your post-tax contributions cap. These re-contributions:
- can be made between 1 July 2021 and 30 June 2030
- cannot exceed the total amount of super accessed under COVID -19 early release, and
- cannot be claimed as a tax deduction.
To make a COVID-19 early release re-contribution complete the ATO Notice of re-contribution of COVID-19 early release amounts form and provide it to TelstraSuper before or at the time you make your contribution. You can make your re-contribution as a regular post-tax contribution via BPAY or cheque.
Not sure if you should make pre-tax or post-tax contributions?
In super, every dollar counts. You can find out the difference in making pre-tax or post-tax contributions to your finances by trying out our online calculator.
We can help you
TelstraSuper Financial Planning also has a team of phone based Advisers who can help you work out what type of contributions may suit you. You can speak to an Adviser for no additional cost as this is a service that’s included in your membership. To speak to an Adviser call 1300 033 166.
* Including the period up to 28 days after the end of the month in which you reach age 75.