Taxwise Australia

💡 𝗧𝗵𝗲 𝗨𝗹𝘁𝗶𝗺𝗮𝘁𝗲 𝗦𝘂𝗽𝗲𝗿𝗮𝗻𝗻𝘂𝗮𝘁𝗶𝗼𝗻 𝗚𝘂𝗶𝗱𝗲 𝗳𝗼𝗿 𝟮𝟬𝟮𝟲 💡

Superannuation is one of the most effective long-term wealth-building tools available to Australians, but it’s also one of the most misunderstood, particularly when it comes to tax and contribution strategies.

As we approach EOFY 2026, now is the ideal time to review your super position and make the most of the opportunities available before deadlines hit.

Here are some key strategies to know:

📝 𝗖𝗼𝗻𝗰𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝗖𝗼𝗻𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻 𝗖𝗮𝗽
The concessional (before-tax) contribution cap for 2025/26 is $30,000, including employer SG contributions and salary sacrifice arrangements.

📝 𝗖𝗮𝗿𝗿𝘆-𝗙𝗼𝗿𝘄𝗮𝗿𝗱 𝗖𝗮𝗽𝘀 — 𝗨𝘀𝗲 𝗧𝗵𝗲𝗺 𝗼𝗿 𝗟𝗼𝘀𝗲 𝗧𝗵𝗲𝗺
If your total super balance is under $500,000, you may be able to access unused concessional caps from the previous five years.

Important: unused amounts from the 2020/21 financial year expire permanently on 30 June 2026.

📝 𝗦𝗮𝗹𝗮𝗿𝘆 𝗦𝗮𝗰𝗿𝗶𝗳𝗶𝗰𝗲
Salary sacrificing into super can be a tax-effective way to grow retirement savings, with contributions generally taxed at 15% instead of your marginal tax rate.

📝 𝗗𝗶𝘃𝗶𝘀𝗶𝗼𝗻 𝟮𝟵𝟯 𝗧𝗮𝘅
Higher income earners with income above $250,000 may be subject to an additional 15% tax on concessional contributions.

📝 𝗦𝗽𝗼𝘂𝘀𝗲 𝗖𝗼𝗻𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻𝘀
Contributing to a lower-income spouse’s super fund could provide a tax offset of up to $540.

📝 𝗦𝘂𝗽𝗲𝗿 𝗖𝗼-𝗖𝗼𝗻𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻𝘀
Eligible low-to-middle income earners who make after-tax contributions may receive up to $500 from the government.

📝 𝗘𝗮𝗿𝗹𝘆 𝗦𝘁𝗮𝗿𝘁 𝗔𝗱𝘃𝗮𝗻𝘁𝗮𝗴𝗲
Contributing to a child’s super early can help maximise the long-term benefits of compound growth.

Superannuation rules change regularly, and the right strategy will depend on your income, balance, and long-term goals. Reviewing your super before EOFY can make a significant difference both now and in retirement.