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sujithsnair(Initiate)Initiate
14 May 2023

I was looking at my wife's Unused concessional contributions available to carry forward and I see that it is around 48k. She is earning 67k a year.


If I pay non concessional super of 49k ( she has another 22k remaining Nonconcessional this year as well) will her taxable income go below 18k in which case she will not have to pay any other tax other than the 15% of 49k which is 7350$ for the tax year. Is this calculation correct?


Or my other option will be to pay 22k in nonconcessional contribution and get into the 45k tax bracket where I will be paying 15% of 22k + $5,092 (19c for every dollar between $18,201 - $45,000) = 8392


Are my above calculations correct?

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474 views
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sujithsnair(Initiate)Initiate
15 May 2023

Thanks for the reply @Bruce4Tax, but how come paying 45k will reduce my tax to $22. Can you please explain the numbers?


Also even when I pay 45k, I will be paying 15pc of 45k already as tax right? Pls clarify.


Many thanks.

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Bruce4Tax(Taxicorn)Taxicorn
14 May 2023

If I pay non concessional super of 49k


  1. She needs to make the contribution, not you
  2. Contribution needs to be concessional to be deductible
  3. Then she needs to lodge a notice of intent to claim a tax deduction to the super fund
  4. Then the super fund will send a confirmation letter

A contribution of $ 45 K would be sufficient to get 2023 tax down to $ 22.



Most helpful reply

sujithsnair(Initiate)Initiate
15 May 2023

Thanks for the reply @Bruce4Tax, but how come paying 45k will reduce my tax to $22. Can you please explain the numbers?


Also even when I pay 45k, I will be paying 15pc of 45k already as tax right? Pls clarify.


Many thanks.

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