Superannuation – Personal contributions (after tax)
Topping up your super is easy.
Topping up your superannuation ensures you have as much as possible when you retire. One of the ways to do this is by making personal contributions.
An 'after tax' contribution, also referred to as Personal, Voluntary or Member contribution, is money deposited into your super account by you, after your income tax has been deducted and no tax deduction has been claimed.
These contributions do not attract contribution tax of 15% and are recorded in your super account as 'tax-free' contributions. However, any earnings on these contributions in your super account are subject to tax of up to 15%.
When you draw these funds out of superannuation prior to age 60 either in a lump sum or as income, no tax is charged on this portion of your superannuation account.
Superannuation – Spouse (after tax) contributionsYou can make contributions to superannuation on behalf of your spouse. The conditions for making a spouse contribution are:
- Your spouse is under age 65 or if they are over age 65, they must meet a work test
- You can be any age
- You are both Australian residents and Australian taxpayers
How do I make after-tax contributions?
There are four easy ways for you to top up your super with after tax contributions. But please note, we must have your Tax File Number recorded to accept after tax contributions.
- BPAY® - No forms to fill out – just transfer your contribution directly into your super account using phone or internet banking. All you need are the following details:
- Catholic Super Biller code
- Your unique BPAY Reference number
if you have registered for Member Online , you can find our Biller code and your unique BPAY Reference number online. If you don't have a Member Online account, you can register online for one right now! You just need your member number handy! Or call us on 1300 655 002 to get your BPAY details.
- Send us a cheque - Make your contribution by sending us a cheque. Please include your name, membership number and address so we can correctly identify you when processing the cheque or download the form to send with the cheque.
- Ask your employer to deduct contributions from your pay - Your employer can send us the money at the same time they send their Superannuation Guarantee (SG) and salary sacrifice contributions to Catholic Super for you. They just have to make sure they tell us it is an after tax contribution. Ask your employer about this option.
- Arrange for a direct debit from your bank account – Take the hassle out of contributing and set up a regular direct debit from your nominated bank account. You can stop this at anytime if your circumstances change. Download the form to set this up
Want to know more about after tax contributions? Contact Us or call 1300 655 002 (Mon-Fri 8.00am-5.30pm AEST).
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