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Contributions To Superannuation

Monies paid into a super fund. There are 3 types:

1. Superannuation Guarantee Contributions (SGC) – These are made by your employer by law. The rate is 9.5% of your yearly income.
2. Concessional Contributions – Contributions made additionally by you pre-tax. These can boost your SGC contributions (known as salary sacrifice).
3. Non Concessional Contribution – Post-tax personal contributions made by you, for example, a once off contribution made after the sale of an asset (known as an after tax contribution).

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