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Member contributions

Section: 2.7

2.7 Member contributions

Member contributions include any contribution made by or on behalf of the member (this does not include employer contributions i.e., Super Guarantee (SG) or salary sacrifice).

Whether the fund can accept a contribution from that member depends on:

  • the member's age
  • whether the member needs to meet the work test
  • whether the member provides their tax file number.

Member contributions

Type of member contribution Description
Child contributions Contributions made for a member who is under 18 by someone other than the member or their employer.
Excess CGT contributions Contributions exceeding your capital gains tax (CGT) cap amount
Excess concessional Contributions in excess of the concessional contributions cap which have not been released from your superannuation fund
Government Co-contributions Up to a maximum amount of $500
Member deductible contributions Other personal contributions which you have not claimed as an income tax deduction
Non-concessional contributions Personal contributions you make from your after-tax income (up to the non-concessional contributions cap).
Overseas transfers Most transfers from foreign super funds (including New Zealand Kiwisaver contributions).
Re-contribution amounts A benefit from a retirement account which you withdraw and then re-contribute to superannuation (this is a strategy that may be used to reduce the taxable component and increase the tax-free component of your super). You cannot have claimed a tax deduction for this type of contribution.
Spouse contributions Contributions your spouse makes to your super fund
   
Exclusions - Contributions that do not count towards your non-concessional contributions cap:
 
CGT contributions Contributions that a member elects to count towards the capital gains tax (CGT) cap lifetime limit
Downsizer contributions Proceeds contributed to super from the sale of a primary residence
Personal injury  Personal injury payments, also called structured settlement contributions
   

This technical resource is intended for the use of financial advisers only. It is current as at the date of publication but may be subject to change. This publication has been prepared without taking into account a potential investor's objectives, financial situation, needs or objectives. Before making a recommendation based on this material, you should consider its appropriateness based on the client's objectives, financial situation and needs. Rainmaker Group is not a registered tax agent under the Tax Agent Services Act 2009. Your client should refer to a registered tax agent before relying on information published herein that may impact their tax obligations, liabilities or entitlements.

Last modified: Tuesday, February 22, 2022