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Tax Facts - Superannuation Contributions for High Income Earners

Additional tax on super contributions at the rate of 15% is imposed on individuals whose combined income and contributions are greater than a certain threshold. From 1 July 2017 this threshold is $250,000. Prior to this it was $300,000. For affected individuals, this effectively increases the rate of tax on their superannuation contributions from 15% to 30%.

The additional tax can be paid personally by the taxpayer or the taxpayer can apply to his/her superannuation fund to have the necessary amount released and paid to the ATO.

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The partners and staff at Brewster Walsh & Associates have a long history in the green triangle region and have gained expertise across a wide cross section of businesses and industries.  We offer a full range of advisory, accountancy, audit and business services.

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Brewster Walsh & Associates provides links to a number of on-line resources which may be of interest to our clients.  This material is not provided by way of advice.  Any action will need to be assessed in the light of your particular situation.

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