How To Boost Your Super
There are a number of ways that you can boost your super, even if you have left it until later in life to start saving for your retirement.
You can make voluntary (after-tax) contributions. These are also referred to as ‘undeducted’ contributions, or ‘non-concessional’ contributions. This is when you have a regular or one-off payment going into your super account from your after-tax income (take home pay). Read more...
You can choose to allocate a certain amount of your pre-tax salary to go straight into your super. This is called salary sacrifice.
Salary sacrifice works by reducing your salary, reducing your income tax, and adding to your super. Read more...
The super co-contribution is a government measure to boost super savings. If you are a low- or middle-income earner, you may be able to receive the super co-contribution from the government by making eligible personal superannuation contributions to your fund. You do not have to contribute the full $1,000 to be eligible – any amount up to $1,000 will attract the super co-contribution. Read more...
A spouse contribution builds your partner’s super whilst providing you with a tax off set (rebate). If your partner’s income is $10,800 or less, you can claim an 18% tax off set on superannuation contributions of up to $3,000 that you make on their behalf. The maximum rebate allowed is $540. Read more...
For more information on how you can boost your super, telephone EquitySuper on 1300 659 799 or email your query to advice@eqtsuper.com