If you have a question about contributions, you should find the answer here. Don't see what you need? Call or email us for further information.


Q1: What is a contribution?

A contribution is money paid into your super by your employer, by you or by your spouse. If you qualify, the Government will put in a bit extra for you too.

Q2: How much does my employer put in?

The law requires employers to pay the equivalent of 9.5% of an eligible employee’s earnings* into super. This is called a superannuation guarantee (SG) contribution. To be eligible for SG you need to earn at least $450 for the month. Some other conditions also apply. The SG rate of 9.5% is increasing, in stages, to 12% by 1 July 2025.

*limited to $54,030 a quarter in 2018/19.

Q3: Should I add extra money to my super?

Deciding to make extra contributions depends on your personal situation and goals for retirement. Ask yourself:

  • Do I need to?

    Your retirement will be funded from the money going into your super now. If you’re relying on super guarantee contributions alone, you may not have enough for the retirement lifestyle you’re hoping for. The Government's super calculator can help you decide if you should be adding extra to your super. You’ll need to enter some numbers so have your latest super benefit statement handy or go online for your account information.

Q4: How do before-tax and after-tax contributions work?

  • Before-tax contributions are made from money that hasn’t yet had income tax taken out. These before-tax contributions are taxed on the way into super at just 15% – a lot lower than the income tax rate most people pay. Because of this favourable (or concessional) tax treatment, these contributions belong to a group known as concessional contributions.

  • After-tax contributions are made from money that has already been taxed, typically take-home pay or money from your bank account. These contributions are not taxed again on the way into super. These contributions belong to a group called non-concessional contributions.

    TIP – make sure we have your tax file number. Without it, we can’t accept your after-tax contributions and you'll pay extra tax on your before-tax contributions. 

What's right for you – before-tax, after-tax or maybe both? The Government's super contributions optimiser can help you decide.

Q5: What does ‘salary sacrificing into super’ mean?

Salary sacrificing is when you ask your employer to direct some of your before-tax pay into your super. It has two main advantages:

  • Your super may grow faster because you’re investing a larger sum of money.

  • It reduces your taxable income so you pay less tax. You may also end up with more money left in your pocket now, as opposed to if you were making after-tax contributions.

The super contributions optimiser can help you work out whether salary sacrificing might be right for you.

If your employer allows salary sacrifice (not all employers do), they will let you know how to arrange regular contributions through payroll. You can read more on how to salary sacrifice in the Smart Easy Actions area of the resources section.

Q6: Is there a limit on how much I can add to my super each year?

Yes. The Government sets annual caps on the amount of concessional and non-concessional contributions (see Question 4) that can go into your super each financial year. All contributions into your super count towards the caps and there are tax consequences if you exceed them.
TIP – stay within the caps as there are tax consequences if you don’t.

There are further restrictions if you have more than $1.6 million in super.  See Question 7.

Q7: Does the amount I have in super affect more money going in?

Yes. The Government has set a limit of $1.6 million on your total superannuation balance (this includes money you have in super accounts, transition-to-retirement pension accounts, and retirement pension accounts). If your balance is more than $1.6 million on 30 June in a given year, the Government won’t allow any further non-concessional contributions into your super.

Q8: Does my age restrict me adding to my super?

If you're aged 65-74 and want to add to your super, you need to be in gainful (paid) work for at least 40 hours in a period of no more than 30 consecutive days in the financial year the contributions are made. Contributions must cease once you reach age 75.

Q9: Am I eligible for any tax offsets or Government contributions to my super?

Depending on income levels and the amount of money going into your super, you may qualify for a tax offset or super contribution from the Government. You don't even need to apply – the Australian Taxation Office will work it out from your tax return and make any payment you're eligible for.

  • Low-income superannuation tax offset

    If you earn less than $37,000 in a year, you qualify for a Government refund of up to $500 on the 15% tax paid on before-tax contributions that you or your employer make to your super. The Government contributes the refund directly to your super.

  • Spouse contribution offset

    If your spouse is not working or earns less than $40,000 a year and you make after-tax contributions to their super, you will receive a tax offset of 18 cents for each $1 you contribute. The maximum offset is $540 for contributions of $3,000 if your spouse’s income is $37,000 or less. The offset reduces for spouse income above $37,000 a year and cuts out for income above $40,000. See our Spouse contribution factsheet in the resources section of our website for more information.

    TIP – it might work the other way round with your spouse contributing to your super.

  • Government co-contributions

    Each year, the Government's co-contribution scheme could mean up to $500 extra towards your retirement nest egg. If your total income is less than $52,697 (in the 2018/19 financial year) and you make after-tax contributions to your super, the Government will boost your super with a co-contribution of 50 cents for every $1 of those contributions up to a maximum co-contribution of $500. See other things you need to know.

    TIP – you can use the super co-contribution calculator on the Government's MoneySmart website to see if you're eligible and to find out how much of a boost you could receive.

Q10: Does my high income mean that I pay higher tax on contributions to my super?

Depending on your income you may have to pay double the normal tax on some or all of your concessional contributions. Read more

Q11: Can everyone now claim a tax deduction on after-tax money they add to their super?

Yes – as of 1 July 2017. This deduction was previously available only to the self-employed, but now everyone under age 75 (including people aged 65–74 if they're eligible – see Question 7) can claim a tax deduction on their after-tax contributions. Those contributions are then taxed at 15% and count towards the $25,000 annual concessional contributions cap.

If your employer does not allow salary sacrifice contributions, the rule change means you now have access to concessionally taxed contributions.

TIP – if you plan on claiming a tax deduction, you’ll need to give us notice of your intention before you lodge your income tax return. You can find the 'Notice of intent to claim a tax deduction' form in the Resources section of the website.

Q12: How do I check my smartMonday super account transactions?

You can get up-to-date details by logging into your account at Your transaction history shows amounts that have gone into and out of your account, and you can choose transaction date ranges. 

Q13: How do I make after-tax contributions?

  • BPAY® – the quick and easy way to make one-off and regular contributions. For the biller code and your customer reference number, see your latest benefit statement, log in to your account at, or contact us. ® Registered to BPAY Pty Ltd ABN 69 079 137 518

  • Electronic funds transfer (EFT)/Pay Anyone or cheque – you’ll need your smartMonday member number and our bank details from the Lump sum contribution form located in the Resources section of the website. Complete this form with details of your transfer or cheque and send it to us by email, mail or fax.

  • Payroll deduction – ask your employer if they can set up a regular payroll deduction.

  • Direct debit from your bank account – if you are a smartMonday DIRECT member you can arrange regular bank account deductions. Complete a Direct debit request and agreement form and mail it to us.

    TIP – You can claim a tax deduction for your after-tax contributions. See Question 11.

Q14: How do I make before-tax contributions?

These are known as salary sacrifice contributions and you’ll need to arrange them through your employer. See Question 5.

Q15: I need some help with decisions about contributing to super. Who can I talk to?

Your financial adviser can help you make decisions about your super as well as a wide range of financial matters. If you don't have an adviser, call or email us to ask about the advice services available through your membership.

More information

Early is good

It’s never too early to start saving for your retirement. Even a few small, smart changes now can help take you closer to the retirement you want. Let’s look at the example of Tom, Peter and Jane.

Tom doesn’t start saving until he’s 35. He saves $20 a week and his savings earn 4.8% pa. By age 65, he has $69,000.

Peter starts saving $20 a week from the age of 25. His savings earn 4.8% pa from age 25. By age 65 he has over $125,000.

Jane starts early too but manages to get a better investment return than Tom and Peter. Her savings earn 6.8% pa from age 25. By age 65, she has more than $215,000.


The above example has been derived by using the Compound Interest Calculator from ASIC’s Moneysmart website found by clicking here.

Providing your tax file number (TFN)

  • provide it online or in our member portal

  • complete and return the Tax file number notification form from the resources section of the website

Concessional contributions

Concessional contributions include:

  • employer contributions (including SG and salary sacrifice)

  • personal contributions on which you claim a tax deduction

  • administration fees and insurance premiums paid on your behalf by your employer

  • the equivalent of employer contributions under a defined benefit scheme as determined by the trustee.

Non-concessional contributions

Non-concessional contributions include:

  • personal contributions you make to your super from your after-tax pay

  • contributions you make to your spouse's super (or vice versa) – see our factsheet

  • co-contributions the Government may make to your super if you make personal contributions.

Annual contribution caps

Super's favourable tax rates are available only up to the annual contribution caps set by the Government. There are tax consequences if you go over the caps.

Cap on concessional contributions

The cap for 2019/20 is $25,000. However you are now able to carry forward any unused concessional contributions cap from 1 July 2018, but only if your super balance is less than $500,000 at 30 June in the year immediately preceding. Any unused amounts are able to be used for a maximum of 5 years after which they expire. 

Any excess contributions may count towards your non-concessional cap – see tax consequences

Cap on non-concessional contributions

The cap for 2018/19 is $100,000.

If you’re under age 65, you can bring forward up to two years of non-concessional contributions into the current year. Total non-concessional contributions over a three-year period must not exceed $300,000. The bring-forward amount and period depends on your total superannuation balance on 30 June of the previous financial year. (Transitional period arrangements apply if a person triggered a bring-forward in either 2015/16 or 2016/17. See the ATO website.)

Available bring-forward amounts

Total superannuation balance Contribution and bring forward available
Less than $1.4 million Access to $300,000 cap (over 3 years)
$1.4 million to less than $1.5 million Access to $200,000 cap (over 2 years)
$1.5 million to less than $1.6 million Access to $100,000 cap (over 1 year)
$1.6 million or over Nil

In addition to the annual cap, individuals can contribute a lifetime limit of $1.445 million (indexed annually) from the sale of certain small business assets (conditions apply).

Government co-contributions do not count towards the annual cap.

Tax on contributions

  Concessional Non-concessional
Contributions within the annual cap1

Taxed at 15%2 on the way in.

No tax is deducted on the way in because the contribution is coming from pay that has already been taxed.
Contributions above the annual cap1 Included in assessable income and taxed at your marginal rate. An interest charge also applies.3 Incur an excess non-concessional contributions tax of 45% plus Medicare levy. 4
Contributions where no TFN is provided to the fund Taxed at 45% plus Medicare levy. Any tax withheld will be refunded if you provide your TFN within a four-year period. The fund cannot accept non-concessional contributions.
Government co-contributions N/A No tax is deducted.

1 Assumes you have provided your TFN to us.

2 Taxed at 30% if you are a higher income earner. Low-income earners may be eligible for the low-income superannuation tax offset from the Government.

3 The Tax Office will apply a 15% tax offset to account for contributions tax that has already been paid on those contributions. You can also elect to withdraw up to 85% of your excess concessional contributions from your super fund and have it paid to you as income. Note that the amount withdrawn will not count towards your non-concessional contributions cap.

4 For excess non-concessional contributions made from 1 July 2013, the Government allows you to withdraw the excess amount plus associated earnings, with no penalty tax applying and refunded earnings taxed at your marginal rate of tax.


Government co-contributions

You may be eligible for a co-contribution if:

  • your total income (assessable income plus reportable fringe benefits) is under $52,697 (2018/19 financial year)

  • you make non-concessional super contributions to your super

  • your total superannuation balance is under $1.6 million on 30 June of the previous financial year

  • you don’t exceed your non-concessional contributions cap for the year

  • 10% or more of your total income is from eligible employment, running a business (if you are self-employed), or a combination of both

  • you lodge an income tax return (the Government than calculates your co-contribution and pays it directly into your super account)

  • you are under age 71 at the end of the year of income

  • you do not hold an eligible temporary resident visa at any time during the year unless you are a New Zealand citizen or holder of a prescribed visa.

Your income and the amount you contribute will determine how much co-contribution you receive. If you earn less than $37,697 in 2018/19 and make a $1,000 after-tax contribution, you will receive the maximum $500 co-contribution. The co-contribution amount reduces as salary increases and cuts out for salary above $52,697.

The co-contribution does not apply to contributions you have claimed a tax deduction for, or contributions made by a spouse.


High-income earners and Division 293 tax

Depending on your income (calculated as your taxable income plus any concessional contributions) you may be liable to pay Division 293 tax.

If your income exceeds the Division 293 threshold of $250,000, the part of your concessional contributions above the threshold is taxed at 30% instead of the normal 15%.

If your taxable income is below the threshold but your concessional contributions push you above the threshold, 15% tax will apply to contributions up to the threshold and 30% tax will apply to contributions above the threshold.

Example: Let’s say your income is $255,000 ($5,000 above the threshold), made up of $240,000 in taxable income and $15,000 in concessional contributions. 15% tax would apply to the first $10,000 of your concessional contributions as they are within the threshold. 30% tax would apply to the $5,000 of concessional contributions that have taken you above the threshold.

Q16: What is the smartMonday fund information for my rollover/contribution form?

  • Fund Name: Aon Master Trust
  • Fund ABN: 68964712340
  • MySuper authorised: 68964712340201

Unique Superannuation Identifiers (USI):

  • smartMonday PRIME: 68964712340001
  • smartMonday DIRECT: 68964712340002
  • smartMonday PENSION: 68964712340010
  • smartMonday PRIME Aon Group: 68964712340004 (Aon employees only)
  • smartMonday PRIME TESF (formerly The Executive Superannuation Fund): 68964712340010
  • smartMonday PRIME TESF (formerly ASC Superannuation Plan): 68964712340011
  • smartMonday PRIME TESF (formerly Valvoline Australia Superannuation Plan): 68964712340012
  • smartMonday PRIME TESF (formerly Jasco Pty Ltd Superannuation Plan): 68964712340013
  • smartMonday PRIME TESF (formerly Esselte Australian Superannuation Plan): 68964712340014
  • smartMonday PRIME Enterprise (formerly Enterprise Plan): 68964712340015

Member enquiries

Have an enquiry? We have three lines dedicated to suit your needs.
Please choose the appropriate contact below:

Not TESF or Enterprise
PO Box 1949
Wollongong NSW 2500
smartMonday TESF
Includes previous TESF members
PO Box R713
Royal Exchange NSW 1225
smartMonday Enterprise
Includes previous Enterprise members
PO Box 1282
Albury NSW 2640
smartMonday PENSION
Includes previous TESF Pension members
PO Box 1282
Albury NSW 2640

Not sure who to call?

Speak to a smartCoach on 1300 262 241 or email

Make Mondays matter

smartMonday is a registered trading name of Aon Hewitt Limited ABN 48 002 288 646 AFSL 236667 (Aon), the sponsor of the Aon Master Trust ABN 68 964 712 340 (the Fund). The trustee of the Fund is Equity Trustees Superannuation Limited ABN 50 055 641 757 AFSL 229757 RSE Licence L0001458. This document has been prepared by Aon. smartMonday PRIME, smartMonday DIRECT and smartMonday PENSION products are part of the Fund.
© 2020 Aon Hewitt Limited – Financial Services Guide

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