Reportable super contributions

Reportable super contributions are counted when assessing an individual for certain income tests: such as the income test for the Senior Australians Tax Offset, and the income test for claiming the Commonwealth Seniors Health Card. Reportable super contributions are non-compulsory concessional (before-tax) contributions made by an employer or individual (whether employed or not). Reportable super contributions can include salary sacrifice contributions (made by employees in agreement with an employer), other non-compulsory employer super contributions, and personal tax-deductible super contributions (made by non-employed or substantially self-employed individuals and claimed as tax deduction in an individual’s tax return). Non-concessional (after-tax) contributions are not reportable super contributions. ‘Reportable employer super contributions’ are a subset of ‘reportable super contributions’.

The following articles are filed under Reportable super contributions

No tax in retirement because you SATO

July 27, 2011

The superannuation tax rules are not the only tax benefits that you can take advantage of in retirement. If you are aged 60 or over, your superannuation benefit from a taxed source is not included as part of your assessable income. Most Australians receive super benefits from a taxed source, unless you’re a member of one of the older public sector super funds.