NECA Group

News & Views

8th June 2021

The End of Financial Year is fast approaching!

Many people think of super as something to think about when they get close to retirement. But by then it’s too late. It deserves attention now, not later. So there’s no time like the end of financial year to get started. So here are 5 end of financial year superannuation tips to help boost your super and potentially save on tax.


1. Add to your super and claim a tax deduction

If you contribute some of your after-tax income or savings into super, you may be eligible to claim a tax deduction. This means you’ll reduce your taxable income for this financial year – and potentially pay less tax. And at the same time, you’ll be boosting your super balance.

To see how it works click here


2. Use salary sacrifice to top up your super

If you’re an employee, you can arrange for your employer to direct some of your pre-tax salary into your super as a ‘salary sacrifice’ contribution. Depending on how much you earn, you’ll potentially pay less tax on this money than if you received it as take-home pay.  Create a budget to work out how much you can afford to contribute to your super from and speak to your employer about helping you set this up

To see how it works click here


3.   Make a one-off contribution

Another way to invest more in your super is with some of your after-tax income or savings, by making a personal non-concessional contribution.

The advantage of this strategy is in the way your investment earnings are taxed. Within super, you’ll pay up to 15% tax on any investment growth rather than your marginal tax rate, which applies to any investments you hold outside of super.

To see how it works click here


4.   Get a super top-up from the Government

If you earn less than $53,838 in the 2020/21 financial year, you may be eligible for the Government “co contribution” if you make an after-tax super contribution.

To see how it works click here


5.   Boost your spouse’s super and reduce your own tax

If your spouse or partner is a middle or low-income earner, you may want to make an after-tax contribution into their super. This could potentially benefit you both: your spouse’s super account gets a boost and you may be eligible for a tax offset of up to $540.

Did you know your spouse can now also join NESS Super and reap the same industry fund benefits! For more contact us on 180 022 067.

To see how it works click here


Don’t get caught out

While these strategies can be an effective way to boost your super, there are annual limits on the amount you can contribute to your super each year.

To see how it works click here


What you need to know

To meet the all-important June 30 deadline, your contributions must be received no later than 5pm (Sydney time) on Wednesday 30 June.

  • Payment by BPAY - your BPAY biller code and customer reference number can be found on your NESS Super membership card or by logging into MemberAccess.
  • Payment by Electronic Funds Transfer - online via your internet banking facility, please ensure you use your member number in the reference field** Account name: NESS Super BSB: 032021 Account number: 690078. **We will be unable to process your payment without a valid member number. 
  • Payment by cheque - Payee: NESS Super Address: Locked Bag 20, Parramatta NSW 2190, please include your full name, contact number and membership number with your cheque.


Note: Electronic Funds Transfers and BPAY payments take at least one business day to be processed and up to 3 days (sometimes longer) to be received by NESS Super. Australia Post advise regular letters can take up to 7 business days (sometimes longer) to be delivered.


Note to Employers

The Superannuation Guarantee (SG) rate will increase to 10% on 1 July 2021.  Are you ready for the SG increase?

  • Ensure your payroll is prepared for the change.
  • Remuneration packages may need to be updated and employees advised of any change.
  • Check your super obligations and payments are up to date. 

A Super Guarantee Health Check for business can be found on the ATO website

To find out more about how NESS Super can help you and your employees, please contact your Employer Services Manager, Calvin Lake on 0436 000 401 or email me at

You can also contact our Member Services Team on 1800 022 067, or email us on


Calvin Lake

Employer Services Manager, NESS Super  


Disclaimer: The information contained in this newsletter is up-to-date at the time of its publication.  However, some information can change over time. The contents are for general information only and does not constitute personal advice. We recommend that you consult with a suitably qualified person before making any financial decisions.

NESS Super Pty Ltd ABN 28 003 156 812 AFSL 238945, as trustee of NESS Super ABN 72 229 227 691.