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After-tax super contributions and co-contributions
Smart ways to grow your super
What are after-tax super contributions?
After-tax super contributions are voluntary payments you make into your super account (or your spouse's) from income or funds you've already paid tax on. The amount you contribute is fully invested in your super, meaning no contributions tax is payable and the whole amount benefits from compound interest. Once in your super fund, earnings on these contributions are taxed at 15%.
These payments are also known as 'non-concessional contributions', in contrast to before-tax contributions which are known as 'concessional'. Note: If you want to claim any part of these contributions as a tax deduction – i.e. have them treated as ‘concessional’ contributions, please refer to ‘contribute and claim’ for more information.
How much can I contribute to super, after tax?
The amount you can contribute to super post tax is generally capped at $120,000 per financial year, however you may be able to increase that maximum limit by bringing forward your contribution caps from the next few years. There are restrictions on how many years you can bring forward depending on your super balance.
This is called the 'bring forward' rule, and should not be confused with the 'carry forward' rule, which deals with previous years' caps and only applies to before-tax contributions. See our information on maximum super contributions.
If you're on a lower income, another way of boosting your super is through Government super co-contribution.
We have an easy-to-use calculator that can help you find out how much super you can contribute including your extra savings on tax.
What is super co-contribution?
Super co-contribution is an Australian Government incentive to help people earning less than $60,400 per year (FY2024-25) grow their superannuation. If that's you, then for every $1.00 you pay into your super, the government will contribute up to 50¢ to a maximum of $500 per financial year.
The amount the government co-contributes will depend on your income, and gradually decreases the closer you get to the $60,400 income limit.
Who is eligible for the government co-contribution?
To qualify for the government co-contribution, you'll need to meet some basic criteria, such as:
- annual taxable income - you must be earning less than $60,400 per year
- eligible income - at least 10% of your income must come from employment or owning a business
- voluntary contributions - you must make at least one contribution to your super in the relevant financial year
- age requirement - you must be less than 71 years old at the end of the financial year
- residency - only permanent Australian residents, New Zealand citizens and a very limited class of 'prescribed' visa-holders are eligible for co-contributions
- super balance limit - your super balance must be less than the 'general transfer balance cap', which in 2024-25 is set at $1.9 million
- below the cap - your contributions this financial year must be less than the non-concessional contributions cap, which is $120,000
- not claiming a tax deduction - your payments into super must not be part of a pre-tax contribution such as a salary sacrifice or 'contribute and claim'.
The ATO will generally check that you meet the criteria automatically, so you won't need to do a thing if you satisfy all the requirements.
How to set up a co-contribution
If you're eligible, it's pretty easy to receive the co-contribution, just by following these steps:
- make an after-tax contribution to your Prime Super account before the June 27 deadline. You can do this by BPay®, but make sure you allow enough time for the transfer to occur and cheques to arrive and clear.
- lodge your tax return with the ATO by the required date.
- the ATO will automatically calculate the amount of co-contribution and deposit it into your super account.