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.
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):
- 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.