Still wanted to get money into super before EOFY?

Home > Financial Focus

View larger image

20th June 2018

Spouse contributions – If your spouse or partner’s assessable income is less than $40,000 and you want to make a super contribution on their behalf, you may be able to claim a tax offset for yourself. The maximum tax offset available is up to $540 if your spouse receives $37,000 or less in assessable income in the 2017/18 financial year. The tax offset is progressively reduced until it reaches zero for spouses who earn $40,000 or more in assessable income in a year.

Government co-contribution – To get the maximum co-contribution you need to earn less than $36,813 and make a contribution of a least $1,000 before June 30^th. The co-contribution steadily reduces as your income rises until it reaches $0 at an annual income of $51,813

Tax-deductible contributions – You may be eligible to claim a tax deduction for your personal super contributions.  By doing this, you may be able to pay less tax while saving more for your future. The current before-tax contributions cap is $25,000 per financial year and includes employer SG and salary sacrifice contributions.