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27 June 2025

Superannuation

Smart super strategies for this EOFY

With June 30 fast approaching, it’s time to start thinking about your super for another year. We’ve put together five smart strategies that may benefit you now and help boost your super.

1. Add to your super and get a tax deduction

This may be right if you	Are employed, self employed or earn taxable income (including realised capital gains) from other sources e.g. shares
How to use this strategy	Make an after-tax super contribution and notify the fund how much you will claim as a tax deduction
The benefits may include	Pay less tax on your income Increase your retirement savings

2. Get more from your salary or bonus via salary sacrifice to super

This may be right if you	Are an employee
How to use this strategy	Arrange for your employer to contribute some of your pre-tax salary or a bonus into super, as part of a salary sacrifice agreement
The benefits may include	Pay less tax on your salary or bonus Increase your retirement savings

This may be right if you

Are an employee

How to use this strategy

Arrange for your employer to contribute some of your pre-tax salary or a bonus into

super, as part of a salary sacrifice agreement

The benefits may include

Pay less tax on your salary or bonus

Increase your retirement savings

3. Convert your non-super savings into super savings

This may be right if you	Have savings outside your super* that you’d like to invest for retirement
How to use this strategy	Make an after-tax super contribution
The benefits may include	Pay less tax on investment earnings Increase your retirement savings

4. Get a super top-up from the government

This may be right if you	Are employed or self employed and have income** below $60,400 p.a.
How to use this strategy	Make an after-tax super contribution
The benefits may include	Receive a government co-contribution of up to $500 Increase your retirement savings

5. Boost your spouse’s super and reduce your tax

This may be right if you	Have a spouse whose income2 is below $40,000 p.a.
How to use this strategy	Make an after-tax spouse contribution into your spouse’s super account
The benefits may include	Receive a tax offset of up to $540 Increase your spouse’s retirement savings

*CGT may apply on disposal of certain non-super investments/assets. **Includes assessable income, reportable fringe benefits and reportable employer super contributions reduced (but not below zero) by any excess concessional contributions and assessable first home super saver released amounts. For the Government co-contribution, it is also reduced for allowable business deductions. Other eligibility conditions apply.

To use any of these strategies you’ll need to meet certain conditions. A financial adviser can assess your eligibility and help you decide which strategies are appropriate for you.

The tax advantages of saving in super

Saving more in super can come with tax and other benefits this financial year – but that’s just the start. Once money is invested in super, earnings are generally taxed at a maximum rate of 15% – instead of your marginal tax rate, which may be up to 47%3.

This low tax rate may help you build up savings for your retirement. When you do retire, you can also transfer your super into a ‘retirement phase’ pension*. Here, you won’t pay tax on investment earnings and any pension payments you receive from age 60 are tax-free.

Tips and traps

Before you add to your super, keep in mind you won’t be able to access the money until you meet certain conditions.

There are caps on how much you can contribute to super each year. It’s important to take the caps into account, as penalties may apply if you exceed them.

Make sure any contributions you want to make this financial year are received by your fund before June 30. With electronic transfers, the contribution takes effect the day your super fund receives the money, not the day you make the transfer.

Other eligibility criteria and conditions (including timing requirements) may apply to these strategies. Further information can be found on the Australian Taxation Office website, ato.gov.au.

Getting advice

You’ll need to meet certain conditions before you can use any of these strategies. A financial adviser can help assess your eligibility for these strategies, explain the different options available to you in detail and help you decide which strategies are appropriate for you.

Further information

For further information please contact Thomas Weir on (03) 9629 1433 or tweir@bwadditions.com.au

Source: MLC

B&W Additions Pty Ltd is a Corporate Authorised Representative (No. 447227) of Capstone Financial Planning Pty Ltd. ABN 24 093 733 969. Australian Financial Services Licence No. 223135. Information contained in this document is of a general nature only. It does not constitute financial or taxation advice. The information does not take into account your objectives, needs and circumstances. We recommend that you obtain investment and taxation advice specific to your investment objectives, financial situation and particular needs before making any investment decision or acting on any of the information contained in this document. Subject to law, Capstone Financial Planning nor their directors, employees or authorised representatives, do not give any representation or warranty as to the reliability, accuracy or completeness of the information; or accepts any responsibility for any person acting, or refraining from acting, on the basis of the information contained in this document.