#1 for 10-year investment performance1
Our Income account won Money magazine's Pension Fund Manager for 2019.3
For personal super contributions
Many Australian workers may be eligible to claim a tax deduction for after-tax super contributions, also called personal super contributions or non-concessional contributions. Claiming a tax deduction for your personal super contributions may help reduce the amount of tax you pay, depending on your circumstances.
If you do claim a tax deduction on personal contributions to your super, 15% contributions tax will be deducted from the contribution/s used in your claim. The amount will also count towards the concessional contributions cap.
If eligible, you can claim a tax deduction for:
To be eligible to claim a deduction, you must:
Read our fact sheet for more information about the eligibility requirements and consider talking to your tax accountant for professional advice. This is particularly important if you are approaching your concessional contributions cap for the year, or if you might be eligible for the Government’s super co-contribution.
Any employer contributions or salary sacrifice contributions you make also form part of the $25,000 concessional contribution cap, so factor these in when you’re working out how much of your contributions you want to claim a tax deduction for.
If you plan to claim a tax deduction for a super contribution, you must formally notify your super fund in writing before you lodge your annual tax return, start an income stream or transfer your funds.
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1. If you’re a defined benefit account member, we use a formula to calculate the concessional contributions associated with your account, which are called notional taxed contributions. Special rules apply for members who had an existing defined benefit account at 12 May 2009.
2. Plus applicable levies.
3. QInvest Limited (ABN 35 063 511 580, AFSL and Australian Credit Licence number 238274) is ultimately owned by the QSuper Board (ABN 32 125 059 006) as trustee for the QSuper (ABN 60 905 115 063). It’s a separate legal entity, responsible for the financial services and credit services it provides. Advice fees apply.
4. For the relevant financial year.