There are several possible sources of contributions to your FIRSTSUPER account:

EMPLOYER CONTRIBUTIONS
Your employer is required to pay at least 9% of your salary to superannuation. Higher percentages may be set by your award or enterprise agreement. Generally, contributions are made if you are paid $450 or more in a month; full-time, part-time or casual. Government contributions tax of 15% is automatically deducted from these amounts and sent to the ATO.

PERSONAL CONTRIBUTIONS
Making extra contributions to your account can greatly boost retirement savings. These Personal Contributions can be in 2 forms. Voluntary Contributions are made from your after-tax salary. You have been taxed on this money already so no contributions tax is deducted from it entering your account. Salary Sacrifice contributions are made from your salary before income tax is deducted, by agreement with your employer. These are taxed at 15% coming into the Fund. Because this rate may be less than your marginal tax rate, it can be most advantageous.

GOVERNEMENT CO-CONTRIBUTIONS
Subject to eligibility, the Government will pay up to $1.50 to your account for every $1 of Personal Contributions that you make in a financial year. So if you are fully eligible and you can contribute $1,000 extra, the Government will pay $1,500 into your account. The ATO works this out from your tax return and our records of contributions. The maximum Co-contribution occurs when your assessable income is $28,980 and reduces gradually to zero when it reaches $58,980 (2006-2007 rates).

TRANSFERS INTO FIRSTSUPER
Paying multiple fees on multiple super accounts may simply be a waste of money. Rolling over money from old super funds into FIRSTSUPER means you’ll ony pay a low fee of $1.35 per week regardless of your account balance. A form is available on our resources page to start the rollover process. We’ll do the rest of the work to have your money transferred.

There are considerations other than fees when you are considering rollovers. We recommend you seek financial advice before rolling over.

SPOUSE CONTRIBUTIONS
Certain conditions apply, but as a rule you can both receive money contributed by your Spouse or make contributions to your Spouse’s account. If your Spouse is not a member of FIRSTSUPER he or she will need to join the FIRSTSUPER Personal Division.

CONTRIBUTION LIMITS
There are certain tax treatment limits on contributions. See our Member Guide for details.