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Jacqui P.
Jacqui P.
Marleston, SA

I know salary sacrifice cap to Super is $25k per year (incld employer contribut) and up to $100k after tax. I received inheritance - paid off mortgage, and have balance in term deposit atm. Once that money comes off term deposit, is that classed as after tax and can I contribute $10k straight into my super as a one off?

8 months ago


Hi Jacqui,
As I understand it yes, that would come under the non-concessional contribution cap which is currently $100,000 per annum but can be loaded together up to $300,000 in one lump sum.
I am sure that the accountants on here will clarify the rules

Hi Jacqui,

Yes, you can have contribution to your super count for either limit.

You are right there is a $25k limit of salary sacrifice & and employer super contribution. However, you can now also put your own money into super (eg some of the inheritance) and claim this as a tax deduction too - all must be within the $25k cap. There is also paperwork that needs to be lodged with your super fund so be careful.

Otherwise the after tax limit you mention is $100k and your contribution will come under this limit. This is the case if it comes out of the term deposit or not - doesn’t matter.

It’s great you are thinking of topping up your super but it can get a bit tricky with the different limits, age restrictions, should you/shouldn’t you etc. if you need some further help please just each out.

All the best.
03 9909 5800

Hi Jacqui,

Per James above, you can now put your own funds into super and claim the deduction - the $25k cap has this included so be careful.

Your best bet, being what most would consider a good financial position, is to speak to a good financial planner and sort out yourt plans going forward. Between super and personal investments, thereis a world of opportunity for you to consider.

Please speak to your accountant and other contacts if you don't already have a trusted financial planner, and make sure you are comfortable with the planners advice before you sign anything. Have other trusted advisors look over if in any doubt.

All the best,


Hi jacqui

agree with everything said here......particularly the bit about getting good advice. Super is the BEST THING EVERRRRR but only as part of a master plan that YOU manage and YOU put together with the help of appropriately qualified and experienced professional types........which means someone who is not all bells and whistles (and big commissions) but someone who will give you advice appropriate for YOU and YOUR situation......and for this assistance you can expect to pay something.

People say that their home is the biggest investment most people make, however I dont agree: you biggest investment is your retirement. The sooner you start planning for this the more comfortable you life is going to be in retirement. You have received a massive leg up in your inheritance, so its very important you make the most of this opportunity and get the best out of it.

good luck


Hi Brendan, what I am unsure of is what sort of professional do I seek? Do I go down the financial adviser route or an accountant? Although I am in a good position, I am not willing to take huge risks on my own. I salary sacrifice, I have term deposit and I work full time. I am not sure paying a financial adviser is going to offer me any more enlightening advice? All I want to know is that if this fin year I contribute $13000 salary sacrifice and work contributes $6k, then can I also contribute $10k into super out of my savings/inheritance without being penalised? I don't want to pay $275 to a fin adviser for this advice.....Cheers, Jacqui

Hi Jacqui.

You need both types of advice: because they BOTH affect what happens. So in terms of taxation management advice a financial advisor will probably not have the skills to help you (and making concessional personal contributions WILL need tax skills).....however many tax gurus wont have a clue about the issues pertaining to setting up your master plan.

I would recommend you look for someone who can help you in BOTH areas......the perfect candidate for you will be someone who is CPA or CA qualified and is ALSO a qualified financial planner.....and trust me that people like this are thin on the ground......so what you should really look for is two people who can work TOGETHER to help you formulate and manage your investment, retirement, taxation planning.

I note that you say "all" you want to know is if you will be penalised for making super contributions......and you believe that $275 is a bit steep for this advice.

Without trying to sound facetious, its not really a difficult question to answer: "all" you need to is read
the Income Tax Assessment Act 1936
and the Income Tax Assessment Act 1997,
and the Superannuation Industry Supervision Act 1993,
and the Superannuation Industry Supervision Regulations 1994, and you should probably be able to figure it out pretty quickly.

For you to get advice on this subject, you need to find someone who is qualified and licenced to provide you this advice......in fact any muppet can provide you advice....but only someone qualified to provide financial advice can LEGALLY do so. And I garuantee you that no-one is going to provide advice like that without sitting down with you to cover off a whole heap of questions first. The Professional Indemnity risk for everyone who acts in this area is too high.

Jacqui, you also mention that you are not keen on taking huge risks with your money: very sensible!!! Getting advice from a planner and a tax expert will go a LONG way to helping you manage risks along the way. If you arm yourself with as much information as possible and utilise people with the skills and knowlege to help you manage risk then you will absolutely be better off.

What you need more than advice about how much money you can drop into super today, is a plan that will take into account ALL your circumstances, and quantify where you want to be in the future, and look at your current situation, and identfiy the things that you can do to get from here to there with the least amount of risk, so as to ensure a lifestyle in your retirement that you are happy with. Which covers a whole lot more territory than what are tax consequences of dropping $10k into super...

good luck:)


Thanks Brendan...appreciate honest and comprehensive advice.

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