Extra Tax on Super
Superannuation plays an important part in securing your lifestyle in retirement. Apart from the compulsory super contributions made by your employer (called ‘super guarantee’ or ‘SG’), you can contribute extra to your super fund at any time to help increase your savings for the future.
You can put in as much money as you like into your super, however there are limits on how much you can contribute before you pay extra tax.
The different caps depend on the type of contributions made into your super fund.
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