Self managed super funds can accept contributions from members, employers on behalf of the members and Government.
Member contributions
The contributions received from members are personal contributions. These contributions may be concessional or non-concessional.
The contributions are concessional when the member claims a tax deduction in their personal income tax return. The member notify the SMSF by using the ATO form NAT 71121 Notice of intent to claim or vary a deduction for personal super contributions. Concessional contributions are taxed in the SMSF at the rate of 15%.
Personal non-concessional contributions are after-tax contributions made by the member, and a tax deduction is not claimed on the contributions by the member. Non-concessional contributions are not tax in the SMSF.
Employer contributions
Employer contributions are contributions made by the employer on behalf of the employee to satisfy the superannuation guarantee contributions (2023-24: 11%; 2023-25: 11.5%; 2025-26 onwards: 12%) obligation. If you have an arrangement with your employer to sacrifice your salary for superannuation, the salary sacrifice contributions are employer contributions. These contributions are concessional contributions and taxed at 15%.
SuperStream
To receive employer contributions, the SMSF must be set-up for SuperStream. SuperStream is the receiving of employer contributions directly into the SMSF's bank account and the associated contributions data electronically.
To receive SuperStream data, your SMSF needs an electronic service address (ESA). Contact us to obtain the ESA for your SMSF.
The electronic data received will enable us to reconcile and allocate the contributions received directly into the SMSF's bank account.
Eligibility to make contributions
Contributions are categorised into Mandated employer contributions and Non-mandated contributions.
Mandated employer contributions are contributions made by an employer under a law or industrial agreement. This includes superannuation guarantee contributions. SMSF can accept mandated employer contributions, and is not subject to age or work test.
Non-mandated contributions include personal contributions, and contributions made by an employer over their superannuation guarantee or award obligation, for example, salary sacrifice contributions. Non-mandated contributions may be accepted when:
From 1 July 2022:
| Age | Non-mandated contributions may be accepted when: |
| Member under 67 years of age | All types of non-mandated contributions are acceptable. |
| Member aged 67 or over, but under 75 | All types of non-mandated contributions may be accepted. But you must meet the work test to claim a tax deduction for personal contributions (for the contribution to be treated as concessional contributions). |
Member aged 75 or over | Non-mandated contributions cannot be accepted. |
The work-test is satisfied where a member is gainfully employed on at least a part-time basis. This means the member must be employed for at least 40 hours in a consecutive 30 day period in the financial year in which the contributions are made. Unpaid work does not meet this requirement.
Contributions cap
There is a monetary cap to limit the amount that may be contributed for a member each financial year.
Concessional contributions cap
Concessional contributions are contributions that are taxable in the superannuation fund. Concessional contributions are subject to the 'concessional' rate of tax of 15% (contributions tax). Concessional contributions cap includes:
The annual cap, calculated per financial year based on actual cash received, is as follows:
| Financial year | Amount of cap |
| 2023-24 | $27,500 |
| 2022-23 | $27,500 |
| 2021-22 | $27,500 |
| 2020-21 | $25,000 |
| 2019-20 | $25,000 |
| 2018-19 | $25,000 |
| 2017-18 | $25,000 |
Unused concessional cap carry forward
If you have not used your full concessional cap amount from previous years, you can carry them forward to use in later years. To be eligible:
Non-concessional contributions cap
Non-concessional contributions (after-tax contributions) are personal contributions made to superannuation fund and not claimed as a tax deduction. The non-concessional contributions cap is subject to your total superannuation balance.
The annual cap, calculated per financial year based on actual cash received, is as follows:
| Financial year | Amount of cap |
| 2023-24 | $110,000 |
| 2022-23 | $110,000 |
| 2021-22 | $110,000 |
| 2020-21 | $100,000 |
| 2019-20 | $100,000 |
| 2018-19 | $100,000 |
| 2017-18 | $100,000 |
Non-concessional contributions cap – bring-forward rule
From 1 July 2022, persons under the age of 75 can contribute up to three times the amount of the cap over a three-year period. The three-year period is triggered in the year that the cap is exceeded. The non-concessional contributions cap is subject to total superannuation balance.
From 1 July 2020 to 30 June 2022 (2020-21 and 2021-22 financial years) - only persons under the age of 67 is eligible to use the bring-forward rule.
Up to 30 June 2020 (2019-20 and prior financial years) - only persons under the age of 65 is eligible to use the bring-forward rule.
Total superannuation balance
Total superannuation balance is the total of all your superannuation interest at the end of 30 June of each financial year. The amount of the non-concessional contributions cap and eligibility for bring-forward depends on your total superannuation balance (TSB).
From 1 July 2023 (2023-24)
| Total superannuation balance (TSB) on 30 June of previous financial year | Contributions and bring forward available |
| TSB less than $1.68 million | Access to $330,000 cap (over 3 years) |
| TSB is more than or equal to $1.68 million and less than $1.79 million | Access to $220,000 cap (over 2 years) |
| TSB more than or equal to $1.79m and less than $1.9 million | Access to $110,000 cap (over 1 year – not eligible for bring-forward) |
| TSB more than or equal to $1.9 million | Nil |
From 1 July 2021 to 30 June 2023 (2021-22 and 2022-23 financial years)
| Total superannuation balance (TSB) on 30 June of previous financial year | Contributions and bring forward available |
| TSB less than $1.48 million | Access to $330,000 cap (over 3 years) |
| TSB is more than or equal to $1.48 million and less than $1.59 million | Access to $220,000 cap (over 2 years) |
| TSB more than or equal to $1.59m and less than $1.7 million | Access to $110,000 cap (over 1 year – not eligible for bring-forward) |
| TSB more than or equal to $1.7 million | Nil |
