The super guarantee charge (SGC) applies when employers don’t pay the minimum amount of super guarantee (SG) for their eligible employees to the correct fund by the due date. The timing of employer deductions for contributions through the clearing house is discussed in Practical Compliance Guideline (PCG) 2020/6 Timing of income tax deductions for superannuation contributions made through the Small Business Superannuation Clearing House - ATO compliance approach has now been finalised and published. Key takeaways: Concessional contributions are contributions made into your super before-tax. Employee age – for employees who are. For those earning more than $250,000, an additional 15% tax may be payable on some or all your concessional contributions. EFT or BPAY direct to the fund Example: 2 part tax offset for spouse super contributions. your total superannuation balance at 30 June 2021 was less than $1,600,000. RESC are any extra super contributions you make to the super fund of one of your employees above the normal legislated requirements. You can boost your retirement savings by making voluntary super contributions, such as by: setting up a salary sacrifice arrangement with your employer. If you do not pay minimum SG contributions for quarter 1 by this date, you must pay the super guarantee. If you're 55 or over, you might be able to add up to $300,000 to your super tax-free when selling a property you've lived in. You won't receive any co-contribution if your income is equal to or greater than the higher threshold. Most SMSFs use provisions in their trust deeds concerning contribution reserves to. Rates and thresholds apply to contributions, employment termination payments, super guarantee and co-contributions. The information you provide is not stored and you will remain anonymous. You can now: view your super fund accounts and balances, and amounts held by us; find lost and ATO-held super and. Contributions caps. This lets us know the amount you’d like to claim. Find out what amounts you need to include in which worksheets. As a guide, employers contribute at least 11% of an employee's earnings to super. The following table illustrates how salary sacrificing and. You may be able to choose the super fund your SG contributions are paid into. Contributing more than the caps to your super may mean having to pay extra tax. Learn more about the low-rate cap. 6 million on 30 June of the year before. If you require tailored technical and interpretative assistance relating to super matters for a specific individual or group of taxpayers, you can contact us by: secure mail for business. For personal super contributions made on or after 1 July 2017, there is no income test. the contributions are out of your before-tax or post-tax income. Paying super contributions for eligible employees, including how much to pay, how to pay and payment dates. 2 million to the Australian Taxation Office (ATO) in 2023–24. Opinion. Enter Income (including any salary sacrifice amounts) 2. Funds must allocate contributions to a member’s account within three business days. How to use the SGC statement and calculator tool. gov. The Government will provide $40. you are aged less than 65 years. They need to be reported to the Australian Taxation Office since the ATO uses them to calculate tax concessions, taxes, Centrelink benefits, and a range of other thresholds. 18 years or older, you pay it regardless of how many hours they work. overtime for which the worker was paid overtime rates. reportable employer super contributions; deductible personal super contributions. au Your entitlement to super as a worker, how to make extra voluntary contributions, and how to keep track of your super. Super contributions to defined benefit and constitutionally protected funds Find out about caps on contributions to defined benefit funds and constitutionally protected (CPF) funds. The Super guarantee (SG) contributions calculator tool helps you work out the superannuation guarantee amount to pay to your employee's super fund. sign in to myGov. OTE is the amount you pay employees for their ordinary hours of work, including things like commissions and shift loadings. For 2022–23, the annual non-concessional contributions cap is $110,000 if your total superannuation balance on 30 June 2022 was less than $1. Module 2: Working out if you must pay super. At the Income tests heading: Enter at Tax-free government pensions or benefits the total amount of tax-free pensions and benefits you received during 2021–22. gov. But these contributions are still taxed within your super fund, but at a rate of 15%, which is lower than most people’s marginal tax rate, the ATO says. Division 293 tax. The quarterly MSCB does not apply to other mandated contributions, such as super contributions you are paid under an industrial award or enterprise agreement. Extra contributions may include salary sacrificed amounts an employee has arranged to have deducted from their pre-tax income and paid into their super fund. These contributions come from after-tax income, so they are non-concessional contributions. Manage reportable super contributions . Income. From 1 July 2020 to 30 June 2022, if you were aged 67 to 74 and your TSB was below $300,000 at the end of the previous year, you can make voluntary super contributions for 12 months from the end of the financial year in which you last met the work test. To claim a deduction for your personal super contributions, you must give your super fund a notice in the approved form and get an acknowledgement from the fund. Work out the best way to grow your nest egg. You can boost your retirement savings by making voluntary super contributions, such as by: setting up a salary sacrifice arrangement with your employer. Super contributions to defined benefit and constitutionally protected funds. the maximum co-contribution entitlement was set at $500. you have not made a request to transfer ATO-held super to your preferred super fund. Division 293 tax. If your income and concessional super contributions total more than $250,000, check if you have to pay Division 293 tax. 2021-22. Lodge your tax return so we can check if you are eligible for a super co-contribution payment up to $500. From 1 July 2017 to 30 June 2021 the general concessional contributions cap is $25,000. au. The annual cap for concessional contributions is $27,500 for the 2023–24 tax year. Her total super balance is under the $1. any personal contributions you made that you’ve advised. for personal super contributions visit the Australian Taxation Office (ATO) website at ato. Division 293 tax is an additional tax on super contributions, reducing the tax concession for individuals whose combined income and concessional contributions for Division 293 purposes is more than $250,000. Contributions you make to your spouse's super are treated as their non-concessional contributions, whether or. 9 million from 1 July 2023) From 1 July 2021 to 30 June 2023, the Total Super Balance limit was $1. Superannuation (super for short) is a long-term investment that grows over time. Additional eligibility requirements were added from 1 July 2017 which includes: having a total superannuation balance of less than $1. At the end of the income year, ABC includes $8,700 on Pieter’s payment summary as reportable employer super contributions: The super guarantee amount of $5,700 is not included anywhere on the payment summary. Start the course now. Module 5: Paying super contributions. Government super contributions workbook 2023. The Government will also set public targets for the ATO on. If you choose to have the contributions offset. The tax paid on your super contributions generally depends on whether: the contributions are out of your before-tax or post-tax income. An eligible, active super account is one that: is held by a living person. You should also contact your super fund to discuss: the contributions that were made; how a contribution cap was exceeded. $3,000. Medicare and private health insurance. For quarters beginning on or after 1 January 2020, a salary-sacrificed contribution cannot be offset against the SGC. Your 15% contributions tax on this amount is $567 (which is paid by your super fund to the ATO). Deductions. Amount. au Concessional contributions These are before tax contributions, such as productivity, salary sacrifice contributions and membersalary-sacrificed super contributions are classified as employer super contributions that are taxed in the super fund (instead of being employee super contributions from after-tax income). You. The calculator doesn't calculate nominal interest. The 12% employer super contributions are not reportable because the employees have no influence over the contribution rate. A: As someone with close to $2 million in super, the maximum annual amount of concessional contributions you and an employer can make on your behalf without any penalties applying is $27,500. Case studies. au or call us on 1300 360 149. Module 3: Setting up super for your employees. This is $1. There are rules for accepting contributions that all trustees need to know. is in accumulation phase. What you need to do: Select your default super fund. If your spouse died during 2021–22 and you did not have another spouse on or before 30 June 2022. If you do not, it will be recorded. The minimum super contribution for Sue for the pay period is: $3,000 × 11% = $330. These contributions must be reported annually to the ATO, but compulsory super payments like your quarterly SG contributions. You should also contact your super fund to discuss: the contributions that were made; how a contribution cap was exceeded. retirement phase are tax-free – subject to a lifetime limit on the amount you can transfer into retirement phase (your transfer balance cap) on withdrawal, as explained in this page. Aged under 75*. If you did not have a spouse for the full year, print X in the No box at L and write the dates you had a spouse in 2021–22 at M and N. You may be able to choose the super fund your SG contributions are paid into. How to complete your tax return or refund of franking credits application using myTax. Note: Payments may take up to 7 business days to be transferred through the ATO and super fund before they reach the employee's super fund account. Division 293 tax is an additional tax on super contributions, reducing the tax concession for individuals whose combined income and concessional contributions for Division 293 purposes is more than $250,000. 5%. See further details of official superannuation rates (including superannuation guarantee rates, thresholds and caps) from The Australian Taxation Office (ATO). The 5 steps you must take as an employer to set up your business so you can pay your employees' super. The 2021–22 concessional contributions cap is $27,500 unless you carry-forward unused concessional contributions amounts from previous financial years. by lodging a paper form with the fund you wish to transfer your super from – Rollover initiation request to transfer whole balance of superannuation benefits between funds. Personal contributions – deductions. Understand super basics. Division 293 tax may reduce the tax concession on super contributions for individuals. Your personal contributions must reach your super fund by 30 June for you to receive a government co-contribution for that financial year. GST. For employees who commenced from 1 November 2021, you can only make contributions to your default fund if the ATO advises there is no stapled super fund. Your employee super information is linked to your super contributions by a unique payment reference number (PRN). You may be able to claim a deduction for personal super contributions you make to a complying super fund or retirement savings account (RSA). super contributions You may be able to claim a tax deduction for any personal super contributions on your next income tax return. The concessional contributions cap was temporarily increased to $35,000: for the 2013–14 financial year if you were 59 years or over on 30 June 2013. Employers who don't pay SG contributions in full by the due date (28days after the end of the quarter) or into the right fund must pay the super guarantee charge to us. Rates and thresholds apply to contributions, employment termination payments, super guarantee and co-contributions. You may have to pay more tax if you exceeded the non-concessional contributions cap. b. Use ATO online services to keep track of your super, including accounts you may have forgotten or lost touch with. 7 million. You will need either your gross salary figure or your wage less any overtime earnings for the period you are trying to obtain a super estimate for. Last modified: 02 Aug 2023 QC 73085. If they fail to do so,. use our Report unpaid super contributions from my employer tool to let us know your employer has not been paying enough super. This lets us know the amount you’d like to claim. making personal super contributions (and a non-concessional contribution may make you eligible for the government's super co-contribution) transferring any super you. SuperStream is the way all employers must pay employee superannuation guarantee contributions to super funds. 31 March 2024. You should complete this form if you make a personal super contribution using the capital proceeds of the sale of certain small business assets, and you elect to exclude them from your non-concessional contributions cap. You can't claim a deduction until you've received acknowledgement back from your fund. The tax offset is calculated as 18% of the lesser of: $3,000, reduced by $1 for every $1 that the sum of your spouse's assessable income, total reportable fringe benefits amounts and reportable employer superannuation contributions for the year was more than $37,000. If you’re a low-income or middle-income earner, you may be eligible for super contributions from the Australian Government. If you choose to have the contributions offset. the sum of your spouse contributions in the income year. or more you pay 30% tax. With SuperStream, money and data are sent electronically in a standard format. Your total income for 2021–22, was less than $56,112. it will be harder to keep track of your super. He indicates that he’d like to split $5,000 of his employer contributions. Super for self-employed people. the higher income threshold was set at $15,000 above the lower income threshold. This is the labour component of the contract. You did not exceed your non-concessional contribution cap. An example of a reportable employer superannuation contribution is a contribution made on your behalf under a salary sacrifice arrangement. Contribution caps are the limits on how much you can pay into your super fund each financial year without having to pay extra tax. The concessional contributions cap is the maximum amount of before-tax contributions you can contribute to your super each year without contributions being subject to extra tax. To be eligible to make catch-up CCs, one criteria is your total super balance must be below $500,000 at the prior 30 June. The ATO calculates if you are eligible for a co-contribution payment and pays the amount directly into your super account. Super guarantee contributions for quarter 3, 2023–24 (1 January – 31 March 2024) to be made to the fund. Contributions caps. How super fund members can claim or vary a deduction for personal contributions made after 1 July 2007 (NAT 71121). External Link. This includes: $27. Reportable super contributions are extra payments to your super that are more than those your employer must make. Taxable component of $300,000 = 75%. Estimated employer SG based on Income. For eligibility criteria visit ato. QC 66591. Adding to your super. gov. annual returns for fringe benefits tax (FBT) and goods and services tax (GST)If someone earning $125,000 put 4% of their pre-tax wage into super this financial year, it would increase their total super contribution by 32%, while only dropping their take home pay by 3%. gov. How the super co-contribution scheme helps low or middle-income earners boost their retirement savings. Start the course now. Employers who don't pay SG contributions in full by the due date (28days after the end of the quarter) or into the right fund must pay the super guarantee charge to us. to help consolidate super accounts within and across funds. About the non-concessional contributions cap. 2 million for consultation and co-design. If your spouse is also 55 or older, you can add up to $600,000 in total between the two of you. If you are eligible to. If you do claim it as a tax deduction, the contribution will be recorded as a concessional contribution. Your TSB is calculated by adding together all the amounts you have in the accumulation. Your personal non-concessional contribution cap may vary depending on factors such as the amounts you’ve contributed in previous years as well as your eligibility to access the bring forward arrangement. Provide employees' TFNs to their funds. As an example, say your salary is $36,000. Some unfunded defined benefit funds require you to contribute a percentage of your salary to your super. 6 million on 30 June of the year before. Generally, if your income plus super contributions is: under $250,000 p. Module 4: Calculating super guarantee. Select Save and continue when you have completed the Income tests section. From 1 November 2021, where an employee commences employment but has not nominated a super fund, the employer is required to make contributions to the employee’s existing super fund (in circumstances where they have one). Our annual publication, Taxation statistics, provides a comprehensive statistical summary of information taxpayers report to us. gov. au or call us on 1300 360 149. a. The super. Concessional contributions can come from several sources, these being from your employer, from pre-tax salary. The normal annual contribution caps apply. the higher income threshold was set at $15,000 above the lower income threshold. Non-resident foreign income. Once you lodge your tax return for the 2023-24 financial year, the ATO will pay any eligible co-contributions into your First Super account automatically. Government contributions superannuation (super) recovery notices are sent to funds to advise them of members who have received an overpayment from us. Generally, you have to pay the super guarantee to employees who are: Under 18 and working more than 30 hours per week. They are taxed in the fund at a rate of 15%. your fund can't accept personal contributions. Sam will sacrifice. This means you pay the 15% super tax on your contribution. It is possible for your reportable super contributions in any one year to consist of both personal concessional contributions and reportable employer super contributions. This decision tool helps determine if your employees are eligible for super guarantee (SG), including any contractors treated as employees for super purposes. Division 293 tax. The super guarantee charge (SGC) applies when employers don’t pay the minimum amount of super guarantee (SG) for their eligible employees to the correct fund by the due date. /Individuals/Super/Growing-your-super/Adding-to-your-superReportable super contributions – the sum of. gov. Maximum after-tax. You may be able to claim a tax offset of up to $540 per year if you make a super contribution on behalf of your spouse (married or de facto) if their income is below $40,000. Invalid and invalid carer tax offset. Payments from super. The 4 small business CGT concessions include the: small business 15-year exemption. you're a high-income earner. 28 April 2024. Why and how to pay yourself super. haven’t given your TFN to your super fund. Always confirm the details of any super contributions with your accountant or tax agent. au/forms Annual contributions limits apply – see page 4. Contributions caps. How to use the SGC statement and calculator tool. Please note, your total super balance includes super held outside of AustralianSuper. Work through the 8 modules in the order listed below: Module 1: Overview of superannuation. Your employer is required to make SG contributions into your super account of $3,780 ($36,000 x 10. 1 min read. the amount of $5,000 being less than 85% of the $10,000 contributed by his employer, and. Learn about your super guarantee employer obligations by completing our online course. Set up your systems to pay super contributions electronically to the right fund. Your employer will pay your super contributions into either: your existing super fund, which is called a stapled super fund; their default super fund. Summary. This is now reviewed annually to remain in line with average weekly ordinary time earnings (AWOTE). To manage super in your ATO online account follow these steps: Australian Taxation Office You can check your super balances, find lost super, compare super. This change will help address the $5 billion a year scourge of unpaid super by making it easier for workers to keep track of payments and for the Australian Taxation Office (ATO) to monitor compliance. This includes the small business retirement exemption and the 15-year CGT exemption. Payment errors. the matching rate was set at 50%. Withdrawing and using your super When and how you can access your super and whether you need to pay tax on withdrawals. If the stapled super fund account provided by us can't accept contributions for the employee, you should make another request for the employee’s stapled super fund via ATO online services. Your SMSF must lodge an. You don’t need to offer a choice of super fund to some employees, but you may still need to request. Note: A nomination to offset late payments is binding and cannot be changed. From 1 July 2022, two new SG changes applied. Overview. The first home super saver scheme (FHSSS) was introduced in the 2017-2018 Federal Budget to improve housing affordability for first home buyers. The limits are called 'contribution caps': Personal contributions you are allowed as an income tax deduction count toward your concessional contributions cap. Step 2: If your spouse claimed a deduction for personal superannuation contributions at question D12 on their tax return (supplementary section), add the deduction amount to the result from step 1. Super may be taxed at 3 points in its life cycle: on contributions. The exception is downsizer contributions, which you could make if you were 65 years or older. To claim a deduction, you must first give your super fund or RSA provider a valid notice of intent and receive an acknowledgment form from your. If employees do have the power to vary their employer contribution rate, the amounts over any compulsory contributions made will be reportable employer super contributions. Super provides income for your employees in their retirement. You must have a nominated (default) super fund and pay your employees super into this fund if: your employees do not choose a fund, or are not eligible to choose one, and. In the 2022–23 financial year, Julie’s employer makes a super guarantee contribution of $3,360 into her super fund. How much super to pay for contractors. Super paid after a person's death is called a 'super death benefit'. ASIC is simplifying the superannuation and retirement planner calculators while undertaking a scheduled review of assumptions. Ben completes the Superannuation contributions splitting application form on the ATO website and lodges it with his fund in August 2023. small business roll-over. Paying super contributions. For most people, 15% is lower than the marginal tax rate you pay on income. Ordinary time earnings are what you earn for your ordinary hours of work. If your income and concessional super contributions total more than $250,000, check if you have to pay Division 293 tax. If a member is eligible, they can claim an income tax deduction for super contributions they make for their own benefit. From the 2017–18 financial year, the. a deduction for personal super contributions form available at ngssuper. If the ATO advises the employee does not have a stapled super fund, you can make the payment to yourWhat you need to do: Select your default super fund. super calculated on salary and wages (including any overtime) any choice liability, based on the shortfall and capped at $500. secure mail for tax practitioners. super fund details before making a super contribution. To be eligible to make catch-up concessional contributions the following must apply, noting that catch-up concessional contributions can be made on top of the annual concessional contributions cap ($27,500). Reportable superannuation contributions are contributions made into superannuation over and above mandated super contributions. Information you need. The SG rate increased to 11% on 1 July 2023. If you are eligible for LISTO, the ATO automatically refunds $500 into your super account. Tax return for super funds with total income in excess of $2 million in latest year lodged (excluding large and medium taxpayers). the higher income threshold was set at $15,000 above the lower income threshold. select Australian Taxation Office. tax deductible. au/super TAX 1 Plus Medicare levy. Personal superannuation contribution deduction – notice of intent to claim (NOI)Adding to your super. If possible, try to resolve your complaint by discussing it with your employer before reporting them. If your income and concessional super contributions total more than $250,000, check if you have to pay Division 293 tax. (provided the ATO is a linked service), as well as your. as a primary locator to link contributions and rollovers with member accounts and to locate member accounts. tax that has been withheld. The minimum SG is calculated as a percentage of each eligible employee’s earnings (ordinary time earnings) to a complying super fund or retirement savings account (RSA). Module 2: Working out if you have to pay super. You don’t need to offer a choice of super fund to some employees, but you may still need to request. you're a high-income earner. Division 293 tax may reduce the tax concession on super contributions for individuals. This is the maximum you can contribute in any one financial year. You can generally contribute up to $27,500 each financial year. Worksheet 2; Row. 5% in 2022–23). If your income and concessional super contributions total more than $250,000, check if you have to pay Division 293 tax. Many Aussie employers are required by law to make superannuation guarantee (SG) contributions for eligible employees every financial quarter. They exclude compulsory employer contributions, such. This form is for superannuation funds and their members to make a capital gains tax (CGT) cap election (NAT 71161). Super contributions to defined benefit and constitutionally protected funds Find out about caps on contributions to defined benefit funds and constitutionally protected (CPF) funds. From 1 July 2021, the non-concessional contributions cap is $110,000. It is generally taxed at a lower rate than your regular income. Your SMSF must lodge an. we advise you that your employees do not have a stapled super fund. Manage reportable super contributions . You can choose to make personal super contributions to save for your retirement. Source: ato. The Government will also set public targets for the ATO on. Whether you’re paying super weekly, monthly, or quarterly, it’s important to check that you’ve applied the correct rate. The ATO sends an excess non-concessional contributions tax release authority to Vinnie's super fund instructing them to release $47,000 from his super. You may be able to choose the super fund your SG contributions are paid into. Super may be taxed at 3 points in its life cycle: on contributions on the investment earnings in the fund, which in the accumulation phase are taxed at 15% retirement phase. It was part of a suite of measures designed to put. The first is to release the excess amount from your superannuation and pay personal tax on an. Your Total Super Balance (TSB) must be under $500,000 as at 30 June in the previous financial year. 1 April – 30 June. Calculate the tax-free and taxable proportions of Peter’s super interest ($400,000) just before the benefit is paid: Tax-free component of $100,000 = 25%. gov. Employers will be able to check with the ATO to see if the employee has an existing super account. Choose the right investment options for you. This is the maximum amount of CGT-related super contributions you can exclude from your non-concessional contribution limits. 5% rate for payments of salary and wages made prior to 1 July. Super contributions – too much can mean extra tax. You may have to pay more tax if you exceeded the non-concessional contributions cap. See full list on ato. It will not affect your total. Contributions caps. Unused cap amounts can be carried forward for up to five years before they expire. The super co-contribution does not need to be claimed. Employers must provide a payment reference number with each payment to a fund – at USI (unique superannuation identifier) level – to enable automated reconciliation of payment and data. 18 for each dollar the receiving spouse’s income is over the low-income threshold. *. These contributions are taxed at 15%. An employer does not have to pay super guarantee for the part of earnings above this limit. 5% for each $1 over $45,000 (in addition to $5092 in tax). you will have to pay Division 293 tax, which applies when your combined income and concessional super contributions for Division 293 purposes is more than $250,000. Contributions you make to your spouse's super are treated as their non-concessional contributions, whether or. If your total income is between $43,445 and $58,445 in the 2023/24 financial year, your maximum entitlement will reduce progressively as your. Find out more about searching for lost super on the ATO website. SuperStream. These are generally: any contributions your employer made for you, including any salary sacrifice contributions. This effectively reduces your taxable income, meaning you pay less tax on your income. the contributions are out of your before-tax or post-tax income. Sam will sacrifice. Contributions for spouses or children. See the ATO website for more information about how much tax you'll pay on super contributions. Tax offset for super contributions on behalf of your spouse. The super guarantee rate is currently 11% of ordinary earnings. If your contributions amounts go over these caps, you may have to pay extra tax. They need to make sure the respective super funds receive these contributions before the due date specified by the Australian Taxation Office (ATO) for that quarter. The SG rate on the date the salary is paid applies. From this tax, there. Check if you have to pay super for your employees, including contractors and workers under 18. Step 3: Receive confirmation from AustralianSuper. If you are unable to access our ATO online services, you can check with your fund or phone us. SuperStream is the way businesses must pay employee superannuation guarantee contributions to super funds. Additional eligibility requirements were added from 1 July 2017 which includes: having a total superannuation balance of less than $1. See claiming deductions for personal super contributions on the Australian Taxation Office (ATO) website for detailed information. If you don't meet your super guarantee (SG) obligations, you may have to pay additional penalties or charges on top of the super. Step 4: Report unpaid super. (An exception is the ATO charges 30% if your income plus super is more than $250,000/year. A member who. on the investment earnings in the fund, which in the. Being paid the right amount of super and making extra contributions. Contributions over your non-concessional contribution cap may be taxed at the highest marginal tax rate, plus the Medicare levy. The clearing house is accessed via the ATO's Online services for business, Online services for agents or ATO online services in myGov. DECEMBER 2022 Page 1 of 4 Claiming a tax deduction for personal super contributions CLAIM A TAX DEDUCTION 1 Complete the Notice of intent form on pages 3 and 4. Older super fund members who want to make a large non-concessional contribution into their super account can now do so from 1 July 2022, after the Treasury Laws Amendment (Enhancing Superannuation Outcomes) Regulations 2022 became law. Tax and restrictions on contributions. Payment (if required) is also due on this date. Even if you outsource some parts of making super contributions, you're still responsible for ensuring your employees' super contributions are paid correctly. If your total income is between $43,445 and $58,445 in the 2023/24 financial year, your maximum entitlement will reduce progressively as your. Superannuation is money employers pay eligible workers to provide for their retirement. It will help you work out the SG sub-totals of each individual superannuation fund and the total of all contributions payable. 5% of Adnan's salary. 7 million in super on June 30 of the previous financial year. AustralianSuper Your super obligations; ATO - Maximum super contribution base; QuickSuper is a financial service provided by Westpac. To. SuperStream is the way businesses must pay employee superannuation guarantee contributions to super funds. Where possible, we will notify you if we do this. gov. Instructions; More informationIf you were under 67 years of age during the financial years 2020–21 and 2021–22, your fund could accept all types of contributions. For quarters beginning on or after 1 January 2020, a salary-sacrificed contribution cannot be offset against the SGC. Hybrid super funds. This contribution is a legislative requirement payable by all employers. Contributing more than the caps to your super may mean having to pay extra tax.