Phone 1800 444 396
Web brightersuper.com.au
Email info@brightersuper.com.au
Post GPO Box 264, Brisbane QLD 4001


Tax on super

Superannuation is one of the most tax-effective ways of saving for your retirement.

The income of super funds is taxed at only 15%, which is below the marginal tax rates for individuals with a taxable income greater than the tax free threshold. For current tax rates, visit the ATO website at https://www.ato.gov.au

Does Brighter Super have your tax file number?

It's easier to keep track of your super if you provide us your TFN. You'll be able to make personal contributions, find lost super and have any rebates or allowances from the ATO paid straight into your account!

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Personal contributions

If you make personal contributions to super from your after-tax pay and don’t claim a tax deduction, no tax will be deducted. However, we can only accept these contributions if you’ve given us your Tax File Number (TFN). If we don't already have it, please log in to Member Online to provide us your TFN.

Spouse contributions are also tax-free.

If you do claim a tax deduction for your personal contributions, a 15% contributions tax will apply. While this reduces the amount invested in your super, it's still much lower than most individuals' marginal tax rates.

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Grow wherever you go

When your employer contributes to your super—whether through Superannuation Guarantee (SG) contributions or salary sacrifice arrangements—those contributions are generally taxed at 15% when they enter your super fund.

However, if your income plus concessional super contributions exceeds $250,000 in a financial year, you may be subject to an additional 15% tax on the excess over the threshold or the taxable super contributions, whichever is less. This is known as the Division 293 tax.

The purpose of Division 293 tax is to reduce the tax concession available to higher-income earners.

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Super earnings

Super fund earnings are taxed at a maximum rate of 15%. The effective tax rate is often lower, due to allowable deductions and certain tax credits.

Limits on contributions

There are limits on how much you can pay into super called Contributions Caps. Different limits apply for after-tax contributions and employer contributions (including salary sacrificed amounts).

Read more about Contribution Caps

Lump sum payments

Super is meant to provide you with income in retirement, which means you generally can’t access your super until you turn 65 or stop working after reaching age 60. Before you meet one of these conditions, early access to your super is only allowed in very limited situations. These include paying for certain expenses on compassionate grounds, being diagnosed with a terminal illness, experiencing incapacity, or facing severe financial hardship.

If you withdraw money from your super before turning 60, tax may apply. For more details, visit the ATO website at https://www.ato.gov.au.

Learn more about lump sum payments

Get some advice about taxes

Like to learn more about the different rates of tax on super and what it means for your personal situation? Let us know and one of our advisers will be in touch.
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Use our retirement income calculator to get an idea of your future finances.

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