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Plant the seed for your future self

Couple in the backyard
Couple in the backyard

Plant the seed for your future self

 

Growing your super with voluntary contributions is much like growing a garden


After you plant the seed or make a contribution, they both take time, patience and care to blossom. Taking small actions today can help grow your super to its full potential and make a big difference for your future.
 

How can I make it grow?

It’s as simple as adding a little extra of your income to your super after you get paid (after tax), on top of what your employer pays. You can add a few dollars each payday or make one off payments – it’s really up to you!

Ways to top up

BPay

BPAY®

Make one-off or regular payments from your bank account

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Direct Debit

Direct Debit

Organise regular payments from your bank account or financial institution
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Payroll Deduction

Ask your employer to make regular payments from your after-tax pay

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Things you should know

Contributions caps

There are limits or ‘caps’ as to the amount of after-tax contributions you can make each year, the annual cap for after tax contributions is 100,000 for 2019-20. However, if your total super balance is over $1.6 million on 30 June of the year before the relevant financial year, you won’t be able to make any non-concessional contributions1. Visit rest.com.au/facts or visit the Australian Taxation Office’s (ATO) website for more information on caps.

If you’re under age 65 and your total super balance on 30 June 2019 is less than $1.6 million, you can bring forward up to three years' worth of contributions. The amount you can bring forward will depend on your total super balance and when you triggered the bring-forward rule. For more information on the bring-forward rule, see our Super facts & figures.

Exceeding the caps

Contributions that exceed these limits attract additional tax, you can find out more info on the ATO's website.

Want some tax back?

You may claim a tax deduction for your after tax contributions that you made during the year. To do so submit a ‘Notice of intent to claim or vary a deduction for personal super contributions’ to Rest before the end of the financial year. For more information, see the ATO’s website.

With our help and advice on your side, it’s easier to feel confident about your financial future. Have a chat with a Rest Adviser2 and see how you could get your contributions working harder.

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® Registered to BPAY Pty Ltd ABN 69 079 137 518 1.

1. If you are aged between 65 and 74 you need to meet a work test to make this type of contribution.
2.Rest Advice is provided by Rest advisers as authorised representatives of Link Advice Pty Ltd ABN 36 105 811 836 AFSL 258145 This website is provided by Retail Employees Superannuation Pty Limited ABN 39 001 987 739, AFSL 24 0003, trustee of Retail Employees Superannuation Trust ABN 62 653 671 394. It contains general advice that has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, consider its appropriateness and the relevant Product Disclosure Statement (PDS), which is available at rest.com.au/pds.

REST - Awards

This website is provided by Retail Employees Superannuation Pty Limited ABN 39 001 987 739, AFSL 24 0003 (Rest), trustee of Retail Employees Superannuation Trust ABN 62 653 671 394 (Fund), of which Rest Super, Rest Corporate, Rest Pension and Acumen are part. It contains general advice that has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, consider its appropriateness and the relevant Product Disclosure Statement (PDS), which is available on this website. The cost of providing financial services is included in the fees in the Fund as disclosed in the relevant PDS. Rest and the Fund do not charge any additional fees or obtain any commissions for the advice provided. Rest’s employees are paid a salary and do not receive any commissions. They may receive a performance related bonus that takes into account the financial services provided. Super Investment Management Pty Limited (ABN 86 079 706 657, AFSL 240004), a wholly owned subsidiary company of Rest, manages some of the fund’s investments. Apart from this, Rest does not have any relationships or associations with any related body corporate or product issuer that might reasonably be expected to be capable of influencing Rest in providing financial services.

Rest personal advice is provided by Rest Advisers as authorised representatives of Link Advice Pty Ltd ABN 36 105 811 836 AFSL 258145

Awards and ratings are only one factor to consider when deciding how to invest your super. Further information regarding these awards can be found at rest.com.au/about-rest/awards. Past performance is not an indicator of future performance. SuperRatings Pty Limited does not issue, sell, guarantee or underwrite this product. Go to superratings.com.au for details of its ratings criteria. For further information about the methodology used by Chant West, see www.chantwest.com.au