Concessional (before-tax) contributions

Concessional is a term used to describe favourable tax treatment. For example, earnings in superannuation funds receive concessional tax treatment. The term 'concessional contributions' means that such contributions receive special tax treatment.

Concessional contributions are before-tax contributions that can include employer contributions, contributions made under a salary sacrifice arrangement and tax-deductible contributions by an individual.

Set out below are all SuperGuide articles explaining Concessional (before-tax) contributions.

Same-sex couples: your super rights explained

Yet again, the government of the day has decided that it is not the right time to allow same sex couples to marry, notwithstanding most polls indicate a majority of Australians support this basic human right for same-sex couples. We have elected a Prime Minister who has publicly stated that he feels … [Read more...]

Salary sacrificing and super: 10 facts you should know

Salary sacrificing superannuation, by making before-tax super contributions, is a popular strategy for employees on middle-to-high incomes. The deal is that you increase your superannuation balance (and pay 15% contributions tax, and for those earning an adjusted taxable income of more than … [Read more...]

Concessional contributions caps: 10 facts you should know

We receive many questions about the concessional contributions caps. Throughout 2015 and into 2016, SuperGuide, as always, will regularly update readers on any proposed changes to the contributions caps (and other super changes), and the implications of such changes on super strategies. The list … [Read more...]

Double contributions tax for high-income earners

Anyone with an adjusted taxable income of more than $300,000 (including rental property losses and other items) now pays 30% tax on concessional contributions paid into a super fund, doubling the super contributions tax bill for high-income earners. The regular contributions tax is a flat rate of … [Read more...]

Super for beginners, part 7: Can I split my super benefits with my spouse?

Q: I am 41 years old and my partner is 56 years old. We have a very big mortgage as we are both the casualties of wealth destroying divorces and single parenthood! Thus we intend to pay off our mortgage before putting more into our superannuation. Can I transfer part of my superannuation to his fund … [Read more...]

Contributing to your spouse’s super account

Q: My wife and I have established an SMSF. I’m fully employed while my wife has not been working since July, and she is unlikely to return to work before the end of this financial year. My question concerns maximising tax strategies for this year. Can I contribute on her behalf in after-tax dollars … [Read more...]

The short story on super contributions limits (2015/2016)

You can make two types of superannuation contributions – concessional and non-concessional – and each type of contribution has a separate limit. Concessional contributions Before-tax contributions, such as compulsory Superannuation Guarantee contributions, salary sacrificed contributions and … [Read more...]

Super for beginners, part 17: Four must-knows about super’s tax rules

Q: I am trying to understand how my super is taxed and it seems that it is taxed at every turn. Can you please explain when, and how, a super benefit is taxed? A: If it were not for tax, superannuation wouldn’t exist. You would simply invest in your own name. Superannuation is taxed at lower … [Read more...]

Super concessional contributions: 2015/2016 survival guide

Superannuation contributions can be divided into two types — concessional (before-tax) and non-concessional (after-tax). Each type of super contribution is subject to a contributions cap. A contributions cap sets a limit on the amount of contributions you can make in any one year. This article … [Read more...]