Grow Your Super

Giving your super a boost by making extra personal contributions to your REST or Acumen account is one way to make sure you have as much money as possible in retirement. Learn more about:

After-tax contributions (from your take-home pay)
Government co-contribution
spouse contributions
salary sacrifice.

What type of contribution suits you? Explore contribution options with our contributions calculator.

After-tax contributions

'After-tax' super contributions are personal contributions you make from your take home pay, that is, after your income tax is deducted from your salary. It doesn’t need to be a lot – just a few dollars from each pay now can make a real difference later on.

Government co-contribution

If you're eligible, you could also receive a co-contribution where the government will match you dollar-for-dollar to a maximum of $1,000 for the 2011-12 financial year.

You can make payments into your REST or Acumen account via:

	BPAY® Make one-off or regular contributions from your bank account. Your unique biller code and reference number are available in MemberAccess or on your member card.
	Direct debit Organise regular payments from your bank account or financial institution.
	Payroll deduction (after-tax) Ask your employer to make regular payments from your after-tax pay.
	Cheque/money order Make your cheque payable to Retail Employees Superannuation Trust.

Spouse contributions

Your spouse can help you save for retirement by making contributions on your behalf. If you are not earning an income, or if your salary is less than $13,800, your spouse may also receive an 18% income tax rebate for contributions up to $3,000 per year.

	Spouse contribution payment Make a spouse contribution into your REST account.

Contributions cap (after-tax)

After-tax contributions, also called non-concessional contributions, are tax-free up to a limit of $150,000 per year. If you are under age 65, you can contribute up to $450,000 in after-tax contributions in one year by bringing forward two years' worth of contributions.

Contributions exceeding these limits will attract an 'excess non-concessional contributions tax' of 46.5%.

Before-tax contributions

Salary sacrifice

Salary sacrifice is an arrangement between you and your employer where contributions are taken out of your pay, before income tax is deducted, and sent to REST on your behalf by your employer. Depending on how much you earn, this can be a tax-effective way of topping up your super.

	Salary sacrifice (before tax) Arrange with your employer to set up regular salary sacrifice payments.

Contributions cap (before-tax)

Before-tax contributions, also called ‘concessional contributions’, are taxed at 15% and include both salary sacrifice payments and the compulsory super contributions
your employer makes.

The limit on concessional contributions is $25,000 per financial year. If you’re aged 50 or over, until 30 June 2012 the limit on concessional contributions is $50,000 per financial year. Concessional contributions made in excess of these limits will attract extra tax.