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Paying Employees' additional contributions
How you can help your employees to grow their super
| Type of contribution | How it works | What do I need to know |
|---|---|---|
| Salary sacrifice | An arrangement between you and your employee where additional super contributions will be deducted from the employee’s salary before they pay income tax. You can make these contributions by updating the salary sacrifice column on the contribution screen within EmployerAccess. This will ensure that the contribution is clearly identifiable and allocated correctly. Your employee will be able to see their salary sacrifice contribution when they receive their member statement from Rest. |
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| Type of contribution | Salary sacrifice |
| How it works | An arrangement between you and your employee where additional super contributions will be deducted from the employee’s salary before they pay income tax. You can make these contributions by updating the salary sacrifice column on the contribution screen within EmployerAccess. This will ensure that the contribution is clearly identifiable and allocated correctly. Your employee will be able to see their salary sacrifice contribution when they receive their member statement from Rest. |
| What do I need to know |
|
| Type of contribution | How it works | What do I need to know | Tax deductions/offsets? |
|---|---|---|---|
| Voluntary contribution | A payment made using after-tax money on top of the SG contribution. The amount can be as little, or as much as the employee would like to contribute. This can be made on a regular or one-off basis. | This payment can be made by the member using the Rest App, BPAY® or Direct Debit. An employer can also make a payroll deduction. ® BPAY and the BPAY logo are registered trademarks of BPAY Pty Ltd ABN 69 079 137 518 |
An employee may be able to claim a tax deduction for after-tax contributions made during the year. To claim a tax deduction, they need to submit a 'Notice of intent to claim or vary a deduction for personal super contributions' to Rest. |
| Government co-contribution | The government’s co-contribution scheme may help eligible low-income earners boost their retirement savings. The government may match 50% of after-tax personal contributions for eligible employees up to a limit of $500. |
The scheme may help an employee whose income is below $58,445 (for the 2023-24 financial year) and who have made or will make an after-tax contribution into their super by 30 June 2024. To get the maximum co-contribution from the government ($500 each financial year), they will need to add $1,000 into their super and earn under $43,445 (for the 2023-24 financial year). The maximum co-contribution then reduces as their income increases. See here for more information on co-contribution eligibility |
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| Spouse contribution | Your employee can help grow their spouse’s super by making spouse contributions. | If an employee’s spouse is a Rest member, this needs to be done through Rest by the employee filling out the form and mailing it to the allocated address. | The contributing spouse may be eligible for the spouse tax offset of up to $540. Visit the ATO’s website for more information |
| Type of contribution | Voluntary contribution |
| How it works | A payment made using after-tax money on top of the SG contribution. The amount can be as little, or as much as the employee would like to contribute. This can be made on a regular or one-off basis. |
| What do I need to know | This payment can be made by the member using the Rest App, BPAY® or Direct Debit. An employer can also make a payroll deduction. ® BPAY and the BPAY logo are registered trademarks of BPAY Pty Ltd ABN 69 079 137 518 |
| Tax deductions/offsets? | An employee may be able to claim a tax deduction for after-tax contributions made during the year. To claim a tax deduction, they need to submit a 'Notice of intent to claim or vary a deduction for personal super contributions' to Rest. |
| Type of contribution | Government co-contribution |
| How it works | The government’s co-contribution scheme may help eligible low-income earners boost their retirement savings. The government may match 50% of after-tax personal contributions for eligible employees up to a limit of $500. |
| What do I need to know | The scheme may help an employee whose income is below $58,445 (for the 2023-24 financial year) and who have made or will make an after-tax contribution into their super by 30 June 2024. To get the maximum co-contribution from the government ($500 each financial year), they will need to add $1,000 into their super and earn under $43,445 (for the 2023-24 financial year). The maximum co-contribution then reduces as their income increases. See here for more information on co-contribution eligibility |
| Tax deductions/offsets? | |
| Type of contribution | Spouse contribution |
| How it works | Your employee can help grow their spouse’s super by making spouse contributions. |
| What do I need to know | If an employee’s spouse is a Rest member, this needs to be done through Rest by the employee filling out the form and mailing it to the allocated address. |
| Tax deductions/offsets? | The contributing spouse may be eligible for the spouse tax offset of up to $540. Visit the ATO’s website for more information |
| Type of contribution | Description | |
|---|---|---|
| Employer award | These may be contributions imposed by industrial agreements, awards, trust deeds or governing rules. | |
| Employer voluntary | This can include an amount above the required Super Guarantee obligations, for example an employer contribution to fund costs such as insurance premiums paid for a member. |
| Type of contribution | Employer award |
| Description | These may be contributions imposed by industrial agreements, awards, trust deeds or governing rules. |
| Type of contribution | Employer voluntary |
| Description | This can include an amount above the required Super Guarantee obligations, for example an employer contribution to fund costs such as insurance premiums paid for a member. |
