There’s more than one way to boost your super
Regular weekly payment
Regular contributions are a great way to put in a little extra, without really noticing it too much in your pay packet.
All you need to do is ask your employer to pay part of your wage directly into your super. You can make payments before tax (this is known as salary sacrifice) or after tax.
When you make before-tax contributions* you don’t pay income tax on the money going into your super. Instead, that money is taxed at just 15% (which is lower than the income tax most people pay). However, there are limits to how much money you can put into your super at this tax rate.
After-tax contributions* is money that you put into your super after income tax has been paid. There is no extra tax paid on this money when it goes into your super account, as it has already been taxed.
To start making regular contributions complete the Voluntary contributions form.
* Limits apply – learn more about contribution caps.
If you’ve come into some cash, a one-off payment into your super is a great boost for your future income.
You can put in extra money toward your super at any time using BPAY, direct deposit or by cheque.
To make a one-off payment, complete the Deposit form and transfer the money using:
||BPAY Biller Code 102012
Customer Reference Number
||17 072 2401
Your member number, surname and contribution type
||Send a cheque payable to Maritime Super to:
Locked Bag 2001
QVB Post Office NSW 1230
Spouse contributions build up your super as a couple and offer tax offsets – it’s a win win.
If your partner earns less than $37,000 a year, you can put in extra money into their account, known as a spouse contribution. If you do this, you could be eligible to get a tax offset of up to $540. It’s a great way to make sure that one partner’s super doesn’t suffer if they are working reduced hours, on maternity or paternity leave, or unable to work.
They say you can’t get anything for free – but when it comes to super, the Government’s willing to lend a helping hand to Australians on lower incomes.
If you earn less than $53,564 a year, you might be eligible to get free super from the Government through either the Co-contribution or the Low Income Superannuation Tax Offset.