Superannuation is Australia’s compulsory retirement savings system. With the Super Guarantee rate at 11.5% in 2024-25 (rising to 12% from 1 July 2025), your employer is required to contribute a significant chunk of your salary to super. Here’s how to calculate where you’ll end up.
Super Guarantee 2024-25
11.5%
From 1 July 2025
12.0%
Concessional cap 2024-25
$30k
Super Balance Projections by Age — 2026
| Current Age | Salary $80k | Salary $120k | Salary $180k |
|---|---|---|---|
| Age 30 | $490k at 67 | $735k at 67 | $1.1M at 67 |
| Age 40 | $270k at 67 | $405k at 67 | $607k at 67 |
| Age 50 | $130k at 67 | $196k at 67 | $294k at 67 |
*Estimates only. Assumes 7% p.a. investment return, 0% starting balance, contributions from today.
Tax on Super — 2025–26
- Employer contributions (concessional) — taxed at 15% inside super (not your marginal rate)
- Investment earnings inside super — taxed at 15% (7.5% with CGT discount for assets held 12+ months)
- Withdrawals in retirement (after 60) — tax-free from taxed funds
- Concessional cap — $30,000 per year (2024-25). Contributions over this are taxed at marginal rate
- Non-concessional cap — $120,000 per year after-tax contributions
How to Boost Your Super Balance
- Salary sacrifice — contribute pre-tax dollars into super up to the $30k concessional cap. High income earners save significantly as contributions are taxed at 15% vs their 37-45% marginal rate
- Government co-contribution — for income under $58,445, the government will match after-tax contributions up to $500 per year
- Spouse contributions — contributions to a low-income spouse’s super may attract an 18% tax offset
- Investment option — switching from a balanced to a growth option for long-term investors can significantly improve returns over a 30-year period
- Consolidate funds — multiple super accounts mean multiple sets of fees. Find and merge lost super via the ATO
Calculate Your Take-Home Pay
See how salary sacrificing into super affects your take-home pay.
Disclaimer: General information only. Not financial advice. Always consult a licensed professional before making financial decisions.