QSuper’s Income Transfer Bonus is an industry first, automatically providing an uncapped bonus to eligible members when they roll their QSuper Accumulation account or Transition to Retirement Income account into a standard QSuper Income account. The amount reflects a tax saving from money which has been set aside by the fund to pay capital gains tax on assets when they are sold at a profit in the Accumulation account but is not required to be paid when the assets are sold in the Income account.

The Transfer Bonus is calculated automatically and paid upon commencement to eligible member accounts when they roll their QSuper Accumulation account/or Transition to Retirement Income account into a standard QSuper Income account.

From 6 June 2016, QSuper members who have opened a standard QSuper Income account have been eligible.1

Based on data from commencement to 31 December 2018:


How the Income account Transfer Bonus works

On behalf of members invested in the Accumulation account and Transition to Retirement Income account, QSuper puts aside money which is an estimation of the capital gains tax required to be paid upon the sale of assets. It’s called tax provisioning. This is because as a complying superannuation fund we have to pay tax on investment earnings within an Accumulation phase (which also includes the Transition to Retirement Income). Typically, QSuper taxation provisions for around 10% tax overall, before declaring daily unit prices.


All investment earnings, whether income or capital gains, are exempt from paying tax in the pension phase. This means when a member transfers money from their QSuper Accumulation/Transition to Retirement Income account into a standard QSuper Income account, their investment assets are being transferred into a tax-free environment. As a result, no capital gains tax is paid when these investment assets are sold.

The money that was previously set aside as a tax provision can therefore be paid back to the eligible member when they transfer from a QSuper Accumulation/Transition to Retirement Income account to a standard QSuper Income account. The amount paid back to the member is known as the Transfer Bonus.


How is the Transfer Bonus calculated?

The investment options you’re invested in affect the amount of bonus you may receive as some assets attract a higher bonus than others. Any money in the Cash and Diversified Bonds investment options will not qualify for the transfer bonus. Money invested in QSuper Self Invest also does not qualify for the Transfer Bonus because you’re already benefiting from the ability to move your assets across to a standard QSuper Income account without having to pay capital gains tax.

Overall, the Transfer Bonus calculation takes into account each individual eligible member’s personal investment history. Some variables included in the calculation of the Transfer Bonus are:

  • the member's super balance
  • the length of time in the Fund
  • their investment options
  • the Fund's tax position.

As the calculation is historically based, if you haven’t been a member of QSuper for more than two months, your Transfer Bonus amount will be zero.

Other key features of the Transfer Bonus

QSuper’s Income account Transfer Bonus is:

  • uncapped
  • paid automatically upon opening a QSuper Income account, not at the year end, meaning that investment returns are earnt on the bonus throughout the year
  • not counted towards a member's concessional contribution cap, giving additional certainty for financial planning strategies
  • reflective of an individual member's personal investment history within the fund, and is not cross-subsidised by other members.

If you’re thinking about retiring soon, get in touch with us to find out how much your Transfer Bonus could be and start making a plan for your future.

1. Only QSuper members who transfer from a QSuper Accumulation Account or QSuper Transition to Retirement Income account to a standard QSuper Income Account and hold one of the eligible investment options may be eligible to receive a Transfer Bonus which will be automatically calculated at the time of commencing an Income Account. Everyone’s transfer bonus will be different. Eligible investment options are: 1. QSuper Lifetime; 2. International Shares; 3. Australian Shares; 4. Aggressive; 5. Moderate; 6. Balanced; 7. Socially Responsible; 8. Voluntary Preservation Plan (VPP closed option).