Tip:
If you’re a Rest member, use our contributions optimiser tool^ to see if voluntary contributions are the right choice for you.
You can make voluntary payments to your super from your after-tax income throughout the year, on top of what your employer pays . You may be able to enjoy some tax deductions subject to the eligibility criteria and the contribution caps. See the ATO website for more information.
If you’re a Rest member and have decided that it’s appropriate for you*, you have a few ways to add to your account:
You can boost your super beyond what your employer pays by setting up salary sacrificing. Typically you’ll need to contact your employer and let them know how much you want to contribute from your salary each time you get paid.
Salary sacrifice contributions are generally taxed at 15% which is likely to be less than your normal income tax rate*.
There’s a government scheme that could add to your super balance.
If your total income is less than $60,400 for the 2024-25 financial year, and you make voluntary after-tax contributions to your super for which you have not claimed any tax deduction, you could receive up to $500 as a co-contribution from the government*. The amount of this co-contribution depends on your income and how much you contribute, and is determined by the ATO after you lodge your tax return
In most cases, the co-contribution is paid by the ATO directly to the super fund where you made the voluntary after-tax contribution.
Did you know you can grow your partner’s super and enjoy a potential tax rebate? It’s called a spouse contribution.
If your partner earns less than $40,000 a year and you make an after-tax contribution into their super account, you may be eligible for the a tax offset of up to $540 per year.
To make a spouse contribution to a Rest member, you can download and complete this form. Additionally, each member has unique BPAY® details specifically for Spouse contributions available to use in the Rest app.
You can claim the spouse contribution tax offset when you lodge your individual tax return. More information on eligibility criteria and the tax offset amount can be found on the ATO website.
Even if you’re not eligible for the rebate, you can still contribute to your spouse’s account and plan for your future together*.
If you’re a Rest member, use our contributions optimiser tool^ to see if voluntary contributions are the right choice for you.
*Tax treatment of super is complex and may change. Any tax related information is general information only. Preservation rules prevent a person from accessing their super until they meet a condition of release (i.e. reach your preservation age and retire). It’s important to remember that you should consider your circumstances and objectives before adding to your (or your spouse’s) super. We recommend you seek advice from an accountant or a licensed financial adviser.
^ The Contribution Optimiser (Digital Advice) is provided by Link Advice Pty Ltd ABN 36 105 811 836 AFSL 258145.
® Registered to BPAY Pty Ltd ABN 69 079 137 518