As the new financial year begins, it’s the perfect time for trustees of self-managed super funds (SMSFs) to review their contribution strategy.
Understanding what contributions your SMSF can legally accept is essential, not just for compliance with superannuation law, but for making the most of the superannuation system to grow your retirement savings.
Let’s walk through the key contribution types, eligibility criteria, and trustee responsibilities to help you start the 2025–2026 financial year with clarity and confidence.
Types of Contributions an SMSF Can Accept
Your SMSF can accept a wide range of contributions, but strict rules apply depending on the contributor’s age, the type of contribution, and whether a valid notice or election is required.
1. Member Contributions
- Personal contributions: Members can make voluntary after-tax (non-concessional) contributions. These count towards the non-concessional contributions cap.
- Concessional contributions: These include employer contributions and personal contributions for which the member intends to claim a tax deduction.
- Spouse contributions: You can contribute to your spouse’s super if they meet age and work requirements, potentially qualifying for a tax offset.
- Contributions for minors: SMSFs can accept contributions on behalf of a member under 18, typically made by a parent or guardian.
2. Employer Contributions
These include:
- Superannuation Guarantee (SG) contributions
- Salary sacrifice arrangements
- Additional employer contributions
SMSFs can accept these contributions if they are made in accordance with employment arrangements and contribution limits.
3. Government Contributions
- Co-contributions: If eligible, a member’s voluntary contributions may attract a government co-contribution.
- Low-income super tax offset (LISTO): Paid directly to the fund if the member qualifies.
Key Considerations for Trustees
To accept contributions legally, your SMSF must ensure:
- The member’s age and total super balance are within the limits to receive the intended contribution type.
The member meets the work test (or is eligible for the work test exemption) if they are aged 67–74 and making personal deductible contributions. - Contributions are received on time, especially near financial year-end. For example, concessional contributions must be received before 30 June to be counted in that financial year.
- Proper documentation and record-keeping are maintained — including intention-to-claim notices and contribution receipts.
Rollover Contributions
Your SMSF can also accept rollovers from other complying super funds. All rollovers must be processed electronically via SuperStream.
Before initiating a rollover, ensure your fund is SuperStream-ready and that your bank and electronic service address (ESA) are current.
Contributions SMSFs Cannot Accept
There are also contributions your SMSF must not accept, such as:
- Contributions from a person aged 75 or over, unless it is a mandated employer contribution or a downsizer contribution.
- Amounts exceeding a member’s contributions caps.
- Contributions from someone who has not provided the required forms or declarations (e.g., notice of intent to claim a deduction).
As a trustee, you play a critical role in ensuring contributions to your SMSF comply with superannuation law. Accepting an ineligible contribution can have serious tax and compliance consequences for the fund and its members.
With contribution caps, eligibility criteria, and deadlines to navigate, getting the right advice at the start of the financial year can make all the difference.
If you need help reviewing your SMSF contribution strategy or understanding your responsibilities, reach out to our team. We’re here to help you start the 2025–2026 financial year with confidence and control.
