With the end of the 2025/26 financial year (FY26) fast approaching, time is running out if you’re planning to boost your superannuation balance before 30 June.
Even a small extra contribution can make a big difference over time, thanks to the power of compounding investment returns.
Here are five simple ways you may be able to add more to your super before 30 June, depending on your individual circumstances.
1. Concessional (before-tax) contributions
You’re able to have up to $30,000 in concessional (pre-tax) contributions deposited into your super account each financial year, which include compulsory Superannuation Guarantee payments made by your employer and any personal contributions you choose to make. From 1 July 2026, this cap will increase to $32,500.
These contributions are generally taxed at 15%, instead of your marginal tax rate.
If you haven’t yet reached your annual cap, you may want to consider topping up your super account before 30 June. You can do this by salary-sacrificing through your employer, or by making a personal after-tax deposit directly into your super account.
If you choose to contribute using after-tax money, you may be able to claim a tax deduction in your next tax return, effectively having those contributions are taxed at the concessional 15% rate.
However, to claim a deduction, you must complete an Australian Tax Office (ATO) notice of intent form and submit it to your super fund. Your fund must then acknowledge your request, and both these things will need to happen before you lodge your tax return.
Keep in mind that this is usually a busy time of the year for super funds, so there could be processing delays. Many super funds have a June cut-off date for processing personal super contributions, which can be one to two weeks before the end of the financial year.
It’s important to keep track of your concessional contributions. If you exceed the total annual limit of $30,000 at 30 June the ATO may require you to pay additional tax.
To avoid this, add up your employer contributions and any extra payments you’ve made during the financial year and check how much room you have left before contributing more.
2. Carry forward (catch-up) concessional contributions
You may have another option to boost your super before 30 June – using any unused concessional contribution caps from previous years.
This will depend on your total super balance and whether you’ve already reached this year’s $30,000 cap.
If your total super balance was below $500,000 as at 30 June last year, you may be eligible to carry forward unused concessional contributions from up to the past five financial years. Unused concessional contributions don’t last forever, they expire after five financial years, so it’s important to check what you still have available before contributing.
For example, if you made a total of $15,000 in employer and personal concessional contributions in 2021-22, you may be able to take advantage of your unused $12,500 gap from that financial year (the maximum concessional contributions limit was $27,500 in 2021-22) and roll it over into this financial year’s contributions.
This $12,500 would be in addition to the maximum $30,000 in allowable concessional contributions that can be made this financial year (allowing you to contribute up to $42,500 in this example).
For many Australians, these unused contributions can add up to a significant amount. You can check your available concessional caps and carry-forward amounts by logging in to your myGov website account and accessing ATO online services.
3. Non-concessional (after-tax) contributions
Non-concessional contributions are after-tax personal payments you may be able to make into your super that aren’t eligible for a tax deduction.
They sit separately from your annual concessional contributions and have their own annual limits.
The main benefit is simple – you’re building more of your wealth within the super system.
Earnings from any investments inside your super account before age 60 are taxed at 15%. After age 60, if you have stopped work and access your super as a pension income stream, your investment earnings and the payments you receive are tax free.
Typically, non-concessional contributions are made using the proceeds from larger asset sales. But there’s no minimum amount – you can contribute what works for you.
The non-concessional contributions maximum limit is currently $120,000 this financial year. However, under what’s known as the “three-year bring-forward rule”, you may be able to make a $360,000 non-concessional contribution this financial year. Eligibility depends on your total super balance as at 30 June last year. If you trigger this rule, You won’t be able to make further non-concessional contributions for the next three financial years.
If you’re planning a larger contribution (more than $360,000), timing could also make a difference. From 1 July, the annual cap increases to $130,000, which means eligible individuals may be able to contribute up to $390,000, provided the bring-forward has not already been triggered before 30 June.
Because the rules can be complex and don’t apply in every situation, it’s worth speaking to your trusted Nexia Adviser before making a significant contribution.
4. Home downsizer contributions
Although this option isn’t strictly tied to the financial year end, you may be able to contribute up to $300,000 into your super fund using proceeds from selling your principal place of residence if you’re aged 55 or older. Couples can contribute up to $300,000 into their individual super funds, each.
A downsizer contribution forms part of the tax-free component in your super fund. It can be made in addition to non-concessional super contributions and doesn’t count towards the annual contributions cap.
However, they will count towards your transfer balance cap when you eventually move your super into pension phase.
There are several eligibility requirements to keep in mind – the full requirements are available on the ATO website.
You or your spouse must have owned your home for 10 years or more prior to the sale, with your ownership calculated from the date of settlement when you bought your home.
There’s also a strict definition of what constitutes a home. It must be in Australia and can’t be a caravan, houseboat, or a mobile home.
You’re unable to use the downsizer scheme to deposit funds from the sale of an investment property. These can only be done through a non-concessional (after-tax) super contribution.
Timing is also important – A downsizer super contribution must be made within 90 days of receiving the proceeds of your home sale, although the ATO will sometimes allow extensions due to circumstances beyond your control.
5. Spouse contributions
You may be able to boost your partner’s super by sharing or directing contributions between you.
There are two ways of contributing to your spouse’s super:
- Split your existing contributions – You can transfer part of the concessional contributions you’ve already made (including employer contributions and salary sacrifice amounts) into your spouse’s super. This is known as a contributions-splitting super benefit.
- Contribute directly to your spouses super – You can make an after-tax super contribution directly to your spouse’s super account, which is treated as their non-concessional contribution and may make you eligible for a tax offset.
Keep in mind that contribution splitting can only be done after the end of the financial year in which the contributions were made.
Eligibility rules also apply. While you can split contributions at any age, your spouse must under 60 years old, or between age 60 and 65 years and not retired. It’s also important to check that your super fund allows contribution splitting, as not all funds offer this option.
The full guidelines around contributions splitting, including eligibility and the application form that needs to be completed, are available on the ATO’s website.
Next steps
Super and retirement planning can be complex, so it’s important to understand the different contribution types and limits. Exceeding the caps can result in additional tax, and there are also age-based rules to consider when making contributions.
Before making any additional contributions to your super, take a moment to consider whether this aligns with your personal circumstances. Super is a long-term investment, and in most cases you won’t be able to access these funds until you meet a condition of release (such as reaching preservation age and retiring).
If you’re unsure about your super options before June 30 and need some advice, we’re always here to help – contact your trusted Nexia Adviser for more information.
