Updated on 17 January 2024
4 minute read
Income tests for Centrelink benefits and things like the Medicare levy surcharge and private health rebates include reportable super contributions. So, they could impact your finances. But what are they? Let's look at how they work and what you need to do at tax time.
Reportable superannuation contributions are used by the ATO and Services Australia to calculate a range of limits, tax concessions, deductions, levies, and Centrelink benefits.
Your reportable super contributions can be one or the other, or a combination of both types.
Money added to your super before it’s taxed is called concessional contributions.
But reportable personal concessional contributions are where you pay money to your super after tax and then claim a tax deduction for it. By doing this, they're treated as concessional contributions.
If you add extra to your super after-tax and don't claim a tax deduction on it, it's not a reportable contribution.
As the name suggests, these are contributions your employer makes into your super for you. They don't include mandatory super guarantee (SG) payments.
Let's take a look at contributions you report and those that are not reportable. Keep in mind, you don't have to report any non-concessional contributions (after tax) since that money's already been taxed.
Additional contributions as part of your salary package
Salary sacrifice contributions/salary packaged super contributions
Bonuses, lump sums and other employment payments directed to super
Super guarantee contributions
Contributions made under collectively negotiated industrial agreements
Matching contributions under a collective agreement
Contributions that must be made by law or under super fund rules
Extra contributions you don't have any control over, such as super that's added to make administration easier or as agreed employer policy
Contributions from your after-tax income
Learn more about ways to grow your super and how to get the most out of your contributions. It's never too early to start planning for life after work.
Grow my superYour reportable super contributions can affect a range of government benefits, concessions, and taxes.
Why? Because they're used to work out if you meet the various income tests.
You need to add in reportable super contributions when applying for assessments including:
Super benefits and taxes
Such as the spouse contribution tax offset or the government co-contribution.
Government benefits
Such as family tax benefits, parental leave, childcare subsidies, and health care cards.
Other offsets and levies
Including seniors and pensioners tax offset, Medicare levy surcharge, and your private health rebate.
Your employer must add the amount on your payment summary at tax time. You then need to include this on your tax return (but you won’t be charged tax on it).
If you claim a tax deduction for your personal contributions on your tax return, this will be counted as reportable personal concessional contributions.
It's easy to check your contributions or add to your super. Simply log in to Member Online or download the Australian Retirement Trust app.
Some family benefits and concessions are based on the income of both you and your spouse. Things like parenting payments and Austudy payments.
The income tests for these include reportable superannuation contributions. So, you'll need to tell Centrelink about your spouse’s reportable super contributions as well as your own.
Yes, salary sacrifice is a type of reportable employer super contribution.
You'll need to add all your salary sacrifice payments to your reportable contributions on your tax return.
Reportable employer super contributions aren't part of your assessable income. So, you can't claim a tax deduction for them.
The ATO treats all types of reportable super contributions as concessional contributions (before tax). That means they get taxed the same as your super – 15%.
If your income plus super is over $250,000 a year, the ATO may add an extra 15% to some or all of your super contributions.
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