How Do I Top Up My Super
Your super balance can feel like a scoreboard you’re losing, especially when you look at the statement and think, how did it get this low? We tackle that exact problem with a clear, practical chat about concessional contributions and the smartest ways Australians can top up super legally, efficiently, and with less tax pain. We also keep it real: everything is general information, so you still need to weigh up your own circumstances.
We walk through what counts as a concessional contribution (employer Superannuation Guarantee, salary sacrifice, and personal contributions you claim as a tax deduction) and why that 15% contributions tax can be a big advantage. Then we dig into catch-up concessional contributions, also known as carry-forward concessional contributions, which can let you contribute above the usual annual cap by using unused cap space from previous years. It’s especially handy after a capital gain, a bonus, or a strong business year, but we’re clear on the fine print: the $500,000 total super balance threshold at 30 June and the five-year rolling limit.
Next we unpack a strategy most people don’t even know exists: contribution splitting between spouses. We explain how it works, when it lands in the other account, and why equalising balances can help with planning for retirement, insurance inside super, and even Centrelink considerations when one partner is younger. Listener questions take us into the tricky part everyone argues about: when you can access super, what changes at 60 versus 65, and why retiring early means you need assets outside super to bridge the gap.
If you want more confidence heading into end of financial year planning and a clearer retirement planning Australia roadmap, hit play, follow the show, share it with a mate who’s stressed about super, and leave us a review. What’s the one super rule you still find confusing?
DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg