Boosting Your Super Before 30 June
How to Claim a Tax Deduction
As the end of the financial year approaches, making a personal contribution to your superannuation can be a simple way to reduce your tax bill while building your retirement savings but only if it is done correctly and on time.
How it works
Concessional (before tax) contributions are generally taxed at 15% within your super fund, rather than at your marginal tax rate, which can be as high as 47%. For most people, that difference is the source of the tax saving.
You can make a personal deductible contribution from your own money and then claim it as a deduction in your tax return. For the 2025–26 financial year, the concessional contributions cap is $30,000. This cap covers all of your concessional contributions combined, including compulsory employer Super Guarantee (SG) contributions and any salary sacrifice amounts, so it is important to work out how much of your cap has already been used before topping up.
If you have not used your full cap in recent years, you may be able to contribute more by carrying forward unused amounts. Eligibility depends on your circumstances, so please see us for assistance if you think this may benefit you.
The Deadlines that Matter
The contribution must reach your fund by 30 June. A contribution only counts for the current financial year if your super fund receives it on or before 30 June, not the date you send it. Payments via BPAY or clearing houses can take several business days to process, so allow plenty of time rather than leaving it to the final day.
You must lodge a valid Notice of Intent and have it acknowledged. To claim the deduction, you must give your super fund a Notice of Intent to claim or vary a deduction for personal super contributions, and receive a written acknowledgement from the fund before you claim the deduction in your return. The notice must be lodged by the earlier of the day you lodge your return or the end of the following financial year. The deduction is not valid without the acknowledgement, and the ATO cannot waive this requirement, so keep it with your records.
Things to watch out for
Don’t exceed your cap. Contributions above your cap are added back to your assessable income and taxed at your marginal rate, removing the benefit.
High-income earners. If your combined income and concessional contributions exceed $250,000, an additional 15% tax (Division 293) may apply. Super is usually still tax effective, but the saving is smaller.
Age rules. Eligibility to claim a deduction can be restricted from age 67. If you are 67 or older, please confirm your position with us before contributing.
Next steps
The right amount, and whether this strategy suits you at all, depends on your individual circumstances. If you’d like to review your options before 30 June, please get in touch with our office so we can work through the numbers with you.