AvSuper accepts many different forms of contributions to your super account, including rolling over any old super.
Not sure how much you should be contributing? An AvSuper Member Advice Consultant can help you decide on a contribution strategy to suit your situation (and it’s free for members!) Please note that there are Contributions Limits in place that may limit the level of contributions you are able to make without tax penalties.
How to make a contribution
Select any of the following options to contribute to your AvSuper account:
- Make a contribution via BPAY (log into AOL to get your personal reference number) and use this form to tell us the details.
- Deposit your contribution into AvSuper’s bank account, using your member number as the reference, and use this form to tell us the details. Our account details are:
|Account name||AvSuper Fund|
- Download a personal contributions form and send it to us with a cheque or money order made out to AvSuper
- Request your bank to make regular contributions from your bank account as direct debits, and let us know electronically or via a paper form
- If your employer agrees, you may be able to make arrangements for your contributions to be deducted from your pay and sent to AvSuper with your employer contributions
There are some Government rules applying to super contributions.
- Contribution limits
- Please note that there are Contributions Limits in place that may limit the level of contributions you are able to make without tax penalties.
- Age limits
- You and your employer can make contributions to your super at any time until you reach 65 years of age. Between the ages of 67 and 74, you can only make personal or spouse contributions if you confirm to us that you have met the work test (explained below.) From the age of 75, you cannot make personal or spouse contributions to your super – although employers can continue to make contributions for you.
- Work test
To satisfy the work test, you need to:
- work at least 40 hours in a 30 day period in the financial year OR
- work at least 40 hours in a 30 day period in the previous financial year, have a super balance under $300,000 at 1 July of the current financial year and not have claimed this exemption before AND
- confirm to us that you have met this via our work test form or by using one of our personal contributions forms.
You can grow your super in the following ways…
AvSuper accepts personal member contributions at any time, as direct payments, regular bank deposits or via your employer. If you are eligible, your personal contributions may also attract a Government Co-Contribution (see below for details).
Please refer to our making personal contributions page for further details, including our online form.
You should also be aware that there are Contributions Limits in place that may limit the level of contributions you may make without tax penalties.
Defined Benefit Members
In addition to making contributions to your defined benefit account, you may also make contributions to an accumulation account. Please refer to the guide for Defined Benefit Corporate (full) members for more information.
For members who withdrew up to $20,000 from their account under the COVID-19 early release scheme, the Government now allows those amounts to be re-contributed without impacting their contribution limits. This is not a new contribution type and only applies until 30 June 2030.
Each COVID-19 re-contribution must not exceed $20,000 and be detailed on a specific form (which the ATO will release shortly). The form must be given to us with or before your contribution is made, and can cover multiple contributions. You can not claim a tax deduction against these contributions, but they may be eligible for a co-contribution.
Defined Benefit Members
If you withdrew from your Defined Benefit, you may be able to re-contribute the money into an accumulation account. Please contact us if you do not currently have an accumulation account.
The Federal Government provides eligible individuals with a superannuation co-contribution to help them save for retirement.
A tax offset for low-income earners (which effectively removes the tax on super contributions) is also available from the Government but is not part of the co-contribution.
The Government co-contribution
If you are eligible and your total income is $41,112 or less the Government will put $0.50 into your superannuation fund for every $1 in personal member contributions you make.
Only personal contributions up to $1,000 will attract the co-contribution, making $500 the maximum that you can receive from the Government. The amount the Government contributes reduces by 3.333 cents for each dollar by which your total income exceeds $41,112. Therefore, no co-contribution is available where your total income is $56,112 or more.
The co-contribution income thresholds are subject to indexation.
The ATO website has a handy calculator to help you work out what your co-contribution might be and how much you would need to contribute to receive this contribution.
If you have retired and no longer have an accumulation account, you may be able to get the co-contribution as a direct payment.
To receive the co-contribution for the 2021-22 financial year, you must:
- have made personal superannuation contributions during the financial year. These contributions must not have exceeded your non-concessional contributions for the year. Super payments from a third party, such as an employer or spouse, and salary sacrifice contributions do not currently count as personal contributions
- have a total income (assessable income plus reportable fringe benefits and salary sacrifice contributions*) of less than $56,112 for the financial year
- have a total superannuation balance below that year’s Transfer Balance Cap
- 10% or more of your total income is from eligible employment, running a business or a combination of both
- not have held an eligible temporary resident visa during the year
- lodge a tax return for the financial year
- be less than 71 years of age at the end of the financial year
Making personal contributions
AvSuper accepts personal contributions at any time, both as lump sum payments and as regular bank deposits. Please refer to our contributions page or download the personal contributions form for further details.
* Salary sacrifice contributions count as part of your income in assessing your eligibility for the co-contribution.
Government low income contributions
The Government has a tax offset to effectively remove the tax on super contributions for low-income earners.
People earning less than $37,000 pa will receive up to $500 in their super account from the Government.
The Low Income Superannuation Tax Offset (LISTO) payment amount will be 15% of the concessional contributions made to the person’s account, up to a maximum of $500. A minimum of $10 will apply (meaning it will be rounded up to $10 for anyone eligible for less than that).
This payment will be paid after October by the Government directly to your super fund. If eligible for this payment, you do not need to do anything to receive it.
This is separate to the co-contribution so eligibility for one does not influence the other.
If your employer agrees, you may be able to make pre-tax contributions from your salary into your AvSuper account. This is called salary sacrifice and it may provide tax advantages in some circumstances.
You can change the amount you salary sacrifice by informing your employer. Our change of contributions form may help you make such changes.
Salary sacrifice contributions are taxed at 15% when received by AvSuper and are counted as concessional contributions for contribution limit calculations.
The Government co-contribution (outlined above) does not currently apply to salary sacrifice contributions, although these contributions are counted as part of your income for determining co-contribution eligibility.
Your employer is required to comply with current superannuation guarantee legislation which generally requires a minimum 10% superannuation contribution. Between 1 July 2013 and June 2023, the minimum rate will gradually increase to 12%.
Some Corporate members covered by certain certified employment agreements may receive a higher level of superannuation contributions.
The ATO is responsible for ensuring employers meet the minimum requirements of the Superannuation Guarantee (SG) Act. If you have concerns about an employer not paying the correct SG contributions for you, please refer to your employer. If it remains unpaid, then the ATO may be able to assist you to get your entitlement.
Your employer may ask to see our compliance letter to be sure AvSuper is a complying, resident, regulated superannuation fund.
If you have more than one employer, you can opt out of SG contributions from one or more employers if you would otherwise exceed the concessional contribution cap.
You must receive SG payments from ant least one employer. Your application must be made 60 days prior to the commencement of the relevant quarter. Once issued, the exemption certificate cannot be changed for that quarter.
Defined Benefit Members
Airservices Australia and CASA contributes whatever is required to ensure the Fund has sufficient assets to pay members’ benefits. If investment returns are positive and Fund assets grow, the employer may contribute less. Conversely, if investment returns are negative, your employer may need to contribute more. The actual level of employer contributions is based on annual advice from the Fund’s actuary.
Employees with CSS/PSS Membership
CSS/PSS members receive employer contributions through their membership with the CSS/ PSS respectively.
However, CSS members who are employees of Airservices Australia may also have a 3% award-based employer contribution paid to the defined benefit division of AvSuper.
AvSuper accepts contributions to your account from your spouse (including de facto or same sex partners). Alternatively, you may want to contribute for your spouse – if not already a member, your spouse is welcome to join AvSuper.
Simply transfer the money into our account or via BPAY (ask your spouse to log into AOL to get the spouse contribution reference number) and let us know via our online form or our Personal/Spouse contributions form.
Spouse contributions can only be made for people younger than 75 years of age, and a work test also applies if they are over the age of 67. The money will count towards the contributions limit of the person receiving the contribution.
The person making a spouse contribution payment may be able to claim a tax rebate – see www.ato.gov.au for more details.
Contribution splitting gives you the opportunity to transfer some of your concessional super contributions to your spouse’s super account. AvSuper offers contribution splitting to all members under the Government rules as outlined in our splitting fact sheet.
You can request a split after 1 July for the previous financial year by sending us a completed contributions splitting application.