Mandated employer contributions
These are contributions made by an employer under a law or an industrial agreement for the benefit of a fund member. They can include any of the following:
super guarantee contributions
super guarantee shortfall components
some payments from the superannuation holding accounts (SHA) special account.
You can accept mandated employer contributions for members at any time. This means you may accept mandated employer contributions for a person regardless of the age of the person or the number of hours they are working at that time.
These include voluntary super contributions such as the following:
contributions made by employers over and above their Superannuation Guarantee (Administration) Act 1992 or award obligations
personal contributions made by employees
personal contributions made by self-employed people
other personal contributions and spouse contributions.
You can only accept non-mandated contributions in the following circumstances:
For members under 65 years of age, you can accept all types of contributions (within certain limits). However, you can only accept member contributions if the member’s tax file number (TFN) has been quoted.
For members aged 65 but less than 70, you may accept non-mandated contributions where the member is gainfully employed on at least a part-time basis and the member has quoted their TFN.
For members aged 70 but less than 75, you may accept non-mandated contributions where the member is gainfully employed on at least a part time basis and the member has quoted their TFN, but you can only accept non-mandated employer contributions and member contributions made by the member In both cases, the contribution needs to be received on or before the day that is 28 days after the end of the month that the members turns 75.
Concessional contributions cap
Eligible spouse contributions
You can accept eligible spouse contributions for a member that is made by their spouse at any time if that member is under the age of 65.
If your member is aged between 65 and 70, eligible spouse contributions made for the member can be accepted only if that member is at least gainfully employed on a part-time basis. If your member is 70 or over, you can’t accept eligible spouse contributions for them.
There is no age limit or employment test for the person making the contribution.
ATO work out your members’ eligibility for the super co-contribution based on information they include in their tax returns and on details of contributions you and other super funds report for them. Your members could be eligible for the super co-contribution if the following apply:
your member is an employee or is self-employed and makes personal super contributions
10% or more of your member’s total income (assessable income plus reportable fringe benefits
plus, from 1 July 2009, reportable employer super contributions) for the financial year is from employment activities or activities from carrying on a business
your member’s total income less any business expenses is less than the higher threshold for that financial year
Rollovers and transfers
Rollovers between superannuation funds are generally not treated as contributions to the SMSF, and so are not subject to the contribution caps.
Every effort has been made to offer the most current, correct and clearly expressed information possible within this site. Nonetheless, inadvertent errors can occur and applicable laws, rules and regulations may change.
These materials on this website are general in nature. It is made available on the understanding that the JH Business Services & Taxation is not thereby engaged in rendering professional advice. Before relying on the material in any important matter, users should carefully evaluate its accuracy, currency, completeness and relevance for their purposes, and should obtain any appropriate professional advice relevant to their particular circumstances.