HOW DO I…make after-tax super contributions by direct credit?

 

Things to know before you start:

  • Tax does not generally apply to these contributions if made within the contributions caps.
  • There are caps, or limits, on the amount that can be contributed to super without incurring additional tax. After-tax contributions are included as non-concessional contributions for the purposes of the caps. It is your responsibility to ensure that you do not breach the caps if you want to avoid paying excess tax.
  • In some cases, there may be restrictions on when or how super contributions can be made.

 

Getting started:

Contact your bank or financial institution and use the following details to make your payment via direct credit online (you cannot make a direct credit super contribution from a bank branch):

  • BSB: 064-785
  • Account number: Last 9 digits of your Accumulate Plus account number (e.g. if your account number is 0250 0123 4567 then your Direct Credit account number would be: 001234567)
  • Reference: MV (only for personal contributions) – if you don’t include this reference, the contribution will be allocated to your account as an employer SG contribution, which may have significant tax implications.

 

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