There are a number of ways you can contribute to your superannuation account.
NTGPASS compulsory contributions
Active members make compulsory contributions to their accumulation account at a rate of between 2 and 6 per cent of contribution salary. Members can vary their contribution rate at the Annual Review each year on 1 October.
The compulsory contributions entitle the member to a Territory-financed defined benefit, which is calculated according to a formula based on the number of benefit points, length of membership and benefit salary.
Voluntary (personal) contributions
Active members who are contributing at 6 per cent of salary can make additional after-tax contributions to their accumulation account. Contributions can be made as a lump sum or through regular payroll deductions. These contributions are known as non‑concessional contributions (refer to contribution caps).
For further information on the rules regarding personal contributions and the payment methods available, please contact your Payroll team or your accumulation fund.
Concessional contribution caps
Concessional superannuation contributions such as salary sacrifice or employer contributions are made from pre‑tax salary. Concessional contributions are taxed at the concessional rate of 15 per cent on receipt into the superannuation fund.
Amounts up to the caps are concessionally taxed at 15 per cent. From 1 July 2012, people with incomes over $300 000 will have the tax on concessional contributions increased from 15 per cent to 30 per cent. From 1 July 2017 the income threshold was reduced to $250 000.
Since 1 July 2013, contributions exceeding the concessional contribution cap will only be taxed at a person's marginal tax rate plus interest charge.
As part of the 2016-17 Commonwealth Budget, the Territory is required to report a notional amount to reflect the value of your Territory-financed (employer) contributions.
|Age||Cap from 1/7/2014|
|Under age 50||$30 000|
|Age 50 and over||$35 000|
Also as part of the 2016-17 Commonwealth Budget, that the concessional contribution caps for all employees was reduced to $25 000 from 1 July 2017.
Non‑concessional contribution cap
Non‑concessional contributions such as voluntary contributions or your compulsory NTGPASS contributions are made from after‑tax salary. From 1 July 2017, the non‑concessional contribution cap is $100 000.
If you are under 65 years of age, you can bring forward two years of contributions, enabling $300 000 to be contributed in one year, with no further contributions in the next two years.
The superannuation co-contribution is a Commonwealth Government initiative to assist eligible individuals to save for their retirement. If you are eligible and make personal superannuation contributions, the Government will match your contribution with a co-contribution up to certain limits. For further details, read the fact sheet below.
NTGPASS and other defined benefit schemes do not allow members to split their concessional contributions with their spouses.
Last updated: 10 August 2021
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