An SMSF can accept all types of contributions, including:
Employer contributions (SG and Salary Sacrifice)
Personal contributions (both concessional and non-concessional)
Employer contributions
Your employer can pay your mandated Superannuation Guarantee (SG) contributions to your SMSF.
You need to provide the following information to your employer or payroll office:
SMSF name
SMSF ABN
SMSF bank details (account name, BSB and account number)
Electronic Service Address (ESA): smsfdataflow for all Grow SMSF customers
SMSF contact details (your details)
Some employers require you to complete a Super Standard Choice Form to nominate your SMSF. You can generate your form here:
If you need to provide a 'Notice of Compliance' for your SMSF, this can be generated as a PDF from the Super Fund Lookup website: https://superfundlookup.gov.au/
Personal contributions - concessional
You can make personal contributions by depositing personal monies into your SMSF cash account.
To claim an income tax deduction for the contribution, you need to complete a Notice of Intent to Claim form:
The Notice of Intent to Claim Form must be completed before lodging your income tax return for the financial year. It doesn't need to be completed before the end of the financial year.
Carry forward concessional contributions
There is an annual concessional contribution cap of $27,500 per individual for 2022/23.
However, you can also access unused concessional contributions from previous financial years (from 2018/19) if your Total Super Balance (TSB) is under $500,000 as of the prior 30 June.
Financial Year | Concessional Cap |
2023/24 | $27,500 |
2022/23 | $27,500 |
2021/22 | $27,500 |
2020/21 | $25,000 |
2019/20 | $25,000 |
2018/19 | $25,000 |
You can view how unused carry forward concessional contributions work on the ATO website here.
Your concessional contributions history (prior years) and Total Super Balance via your MyGov account under ATO > Super > Information.
A concessional contribution that exceeds your cap (including any carry forward amounts available) will be classified as a non-concessional contribution.
Personal contributions - non-concessional
When you contribute your SMSF, and either you or an employer do not claim a tax deduction, the amount is a non-concessional contribution.
There is an annual non-concessional cap of $110,000 per individual per year. To make non-concessional contributions, your Total Super Balance (TSB) must be below $1.7m as of the prior 30 June.
If you are close to this amount, you must seek professional advice because how much you can contribute is impacted by a range of factors.
Non-concessional contributions can only be made for people under 67 (2021) or under 75 (2022 onwards).
It is also possible to bring forward two years' worth of non-concessional contributions so a 3 x $110,000 = $330,000
Spouse contributions
If your spouse's total income (taxable income plus FBT and reportable super contributions) is less than $37,000, and you deposit $3,000 into your SMSF on behalf of your spouse, you can receive a tax offset of $540.
Government co-contributions
If your total income (taxable income plus FBT and reportable super contributions) is below $56,112 for the 2021/22 financial year and you make a personal non-concessional contribution, the Government will make a co-contribution of your behalf.
First Home Super Saver Scheme (FHSSS) contributions
From 1 July 2022, you can contribute an additional $15,000 per year to super (including an SMSF) up to $50,000 to be used as a deposit towards your first home.
Downsizer contributions
Allows an individual over age 60 to contribute $300,000 from the sale of a personal residence they've lived in for 10 years or more to super. The amount doesn't count towards any contribution caps and is not impacted by Total Super Balance (TSB).