Non-concessional (after-tax) contributions

Non-concessional is a special term associated with after-tax super contributions. After-tax contributions are super contributions for which an individual or employer hasn’t claimed a tax deduction.

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.

Non-concessional contributions are after-tax contributions including spouse contributions and contributions made under the Super Co-contribution Scheme. Non-concessional contributions were previously known as undeducted contributions.

Set out below are all SuperGuide articles explaining Non-concessional (after-tax) contributions.

Super for Beginners (25 Q&As)

One of SuperGuide’s more popular initiatives has been the development of a ‘Super for Beginners’ section that answers some of the many questions that we receive from those readers who are new to superannuation and new to super’s terminology.The series currently consists of several lead articles, … [Read more...]

Super for beginners, part 25: Is super worthwhile if I’m earning less than $37,000?

Q: Great site! Lots of excellent information. I now work part-time, earning just under $37,000, and wondered whether I should bother with super. I am pretty sure I will get the Age Pension, and based on my income I reckon I would be better to save outside super and pay less tax, rather than have my … [Read more...]

Super for beginners, part 22: How do you speak ‘superannuation’ (… in 20 words)?

Many Australians find the stodgy language of superannuation confusing. The terminology associated with superannuation is a barrier to self-education and may deter some Australians from taking early steps to plan for retirement. Millions of Australians care about their super account even though they … [Read more...]

Know your super limits: Reducing CGT via concessional contributions

Q: I am one of those people (and my wife) who made the decision years ago to invest in property rather than super. Now at 60, (wife 55) I am retired and live off my property investments. I would like to get rid of the properties at about age 65. Mainly because of the worry, and maintenance upkeep, … [Read more...]

Non-concessional contributions: Tread carefully when aged 63 or 64 or 65 (3 Q & As)

Q: I am 64 and want to take advantage of the bring-forward rules when making non-concessional contributions. I turn 65 sometime during the 2015/2016 financial year. There is a possibility that I will be able to dispose of a property during the financial years 2015/2016 or 2016/2017. My three related … [Read more...]

Tax-deductible super contributions: Claim no more than your income

Q: If I make a personal concessional payment of $30,000 (tax-deductible) and a personal $180,000 non-concessional (non-tax deductible) payment into my SMSF and my personal taxable income for 2015/2016 is $20,000, are there possible tax penalties because I’m claiming $10,000 more than my taxable … [Read more...]

For over-65s: Ten tips when making super contributions

You can make voluntary superannuation contributions up to the age of 74 (that is, before you turn 75), and these can be concessional (before-tax) or non-concessional (after-tax) contributions. If you’re aged 65 or over, then you must satisfy a work test, if you intend to make super contributions. … [Read more...]

Making super contributions: Aged 65 years or older

Q: From reading SuperGuide articles, I can see that for people between 50 and 74 years, the concessional contribution cap is $35,000 a year, and that for non-concessional contribution, the cap is $180,000. Is this $180,000 cap for NON-concessional contribution the same regardless of the age of the … [Read more...]

Super contributions beyond the age of 75

Q: If employers must now make Superannuation Guarantee contributions for over-70s, does this mean that additional concessional or non-concessional contributions can also be made by those aged over 75?A: The short answer is ‘no’. Although employers are now required to make SG contributions for … [Read more...]

Over-65s work test: How does it operate again

1. Does 40 hours in any 30-day period include weekends or is it 6 x 5-day weeks? I read in a bank’s booklet on superannuation that it must be “at least 40 hours in a period of not more than 30 consecutive days during the financial year ….” This seems to imply working beyond 30 days is not … [Read more...]