For most people, the majority of their super will come from their employment in the form of the 'Super Guarantee', a payment of the equivalent of 9.5% of pre-tax income. These contributions are usually taxed at 15%*. This is known as the 'concessional' rate.

Make sure you don’t pay too much tax on your super by providing us with your Tax File Number (TFN). 

However, the Super Guarantee isn't the only way to build up your super. 

Salary Sacrifice - Employees

If you're an employee, you may be able to put pre-tax income into super, to build more for retirement and pay less tax. You can do this by asking your employer to put some of your pay into your super instead of putting it all into your bank account.

Find out more

Personal tax deductible - Employees and Self Employed

Since 1 July 2017, all individuals can make personal tax-deductible contributions to super (previously, only the self-employed were eligible).

This is money you contribute to super from your bank account where you have notified TWUSUPER that you intend to claim a tax deduction for those contributions.

Find out more

Personal after-tax

This is the money you put into your super from your bank account and for which you do not claim a tax deduction. Because the payment is made after tax, you won't pay any contributions tax when this money enters your fund.

You can make payments to your TWUSUPER account using BPAY®. Get your BPAY® information by calling us on 1800 222 071 between 8am and 8pm (AEST/AEDT) weekdays.

® Registered to BPAY Pty Ltd ABN 69 079 137 518.

Government Co-contribution

Depending on how much you earn each year, the Government can chip in up to $500 to help boost your super when you make a voluntary non-concessional (personal after-tax) contribution to your TWUSUPER account.

Find out more

Boost your spouse's super

You can help build your spouse’s** super by contributing to their super.

Spouse contributions

If your spouse earns $40,000 or less, you may be able to claim a tax rebate (or offset) for making an after-tax contribution to their super. To receive the rebate, you'll need to meet the ATO's eligibility rules. To make an after-tax contribution to your spouse's super, complete a Spouse contribution form

Contributions splitting

To split your before-tax contributions with your spouse, complete a Contributions splitting application form.

Age 65-74? The Work Test Exemption could help you contribute

You can contribute to your super between age 65 and 74 if you satisfied the Work Test (this refers to a minimum number of hours that must be worked) last financial year. This is known as the Work Test Exemption (WTE). 

Find out more

Downsizing contributions for the over 65s

From 1 July 2018, if you are age 65 years or older and meet the eligibility requirements, you may be able to choose to make a downsizer contribution into your superannuation of up to $300,000 from the proceeds of selling your home. See the ATO website to see if you're eligible.

Find out more

First Home Super Saver Scheme

The First Home Super Saver (FHSS) scheme allows first home buyers to save money for your first home inside your super fund. 

Find out more

  • Contribution limits

    There are limits – or caps – on the amount you can contribute to your super at favourable tax rates. If you go above these caps, additional tax may apply. The caps apply to any super accounts in your name – not just your TWUSUPER account.

    Below is a summary of some of the rules around the caps – the ATO website provides further detailed information.

    Before-tax limits

    Before-tax contributions (also known as concessional contributions) include:

    • employer contributions (including contributions made under a salary sacrifice arrangement), and
    • personal contributions claimed as a tax deduction.

    For most people, the concessional contributions cap for the 2019/20 financial year is $25,000.

    However, there are some options that allow you to contribute more than the cap, including the ‘carry forward’ rule. From 1 July 2019 you can carry forward any unused amount of the concessional contributions cap for up to five previous financial years, if your total super balance is less than $500,000 on 30 June of the previous financial year (covering all super accounts in your name). Note, any unused cap can only be used from the 2019/20 financial year.

    For example, if your before-tax contributions in the 2018/19 financial year totalled $10,000, you could carry forward the additional $15,000 over to the 2019/20 financial year. This means you could contribute up to $40,000 in 2019/20.

    After-tax limits

    After-tax contributions (also known as non-concessional contributions) include spouse contributions, after-tax employee contributions and personal contributions for which you do not claim an income tax deduction.

    The non-concessional contributions cap for the 2019/20 financial year is $100,000. However, the ‘bring forward’ rule means you can contribute up to $300,000 over three years.

    If the balance in all super accounts in your name reaches $1.6 million, no more after-tax contributions can be made.

    About the downsizer measure

    If you are 65 years old or older and meet the eligibility requirements, you can make a downsizer contribution into your super of up to $300,000 from the proceeds of selling your home.

    Your downsizer contribution does not count towards your contributions caps, and can still be made even if you have a total super balance greater than $1.6 million.

*People earning over $250,000 may pay more tax. The definition of income here includes concessional contributions. If your adjusted taxable income excluding your concessional contributions is less than $250,000, but the inclusion of your concessional contributions pushes your income above $250,000, the additional 15% tax will only apply to the portion of the contributions that are above $250,000. This additional tax may be paid directly by you or released from the Fund. Adjusted taxable income includes taxable income, reportable employer superannuation contributions, deductible personal superannuation contributions, reportable fringe benefits amounts and other sources of income. 

**To receive your contributions, your spouse must meet the age and work-hour requirements (contact us for more information). The law defines a spouse as another person (whether of the same or different sex) who is legally married to you, or a person who, although not legally married to you, lives with you on a genuine domestic basis in a relationship as a couple. Income, for the purposes of eligibility for the rebate, includes your spouse's assessable income, total reportable fringe benefits, and reportable employer contributions.

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