Over 50? Use these seven ways to boost your super before July 1

June 13, 2026 — 5:01am

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The end of financial year is just two weeks away. But for everyone in a major Australian super fund, you don’t actually have the full two weeks – it’s actually closer to one week before the big super funds close off their contributions for the end of this financial year.

So snap to it! It’s time to take advantage of all the little incentives available to get ahead. Here are the things I think anyone looking into the second half of life should consider doing before the doors of this financial year close, especially if you can see retirement in your future.

1. Look for co-contribution opportunities

My first suggestion is for those who don’t have a lot of money coming in, who can take advantage of the government co-contribution that’s designed to boost the super of those who need it. Yes – you heard me right – free money from the government!

If you’re eligible, all you need to do is make a voluntary contribution to your super of $1000 and the government will top it up with up to $500, depending on your eligibility.

If you or your partner or adult children earn less than $47,488 and the account holder contributes $1000 as a personal contribution, that person will receive the full $500 bonus. It’s an amount that gradually phases out up to the top income threshold of $62,488.

If all this baffles you, and you want some help, call your super fund’s help lines.

There are some conditions, of course, to qualify. Ten per cent or more of your total income must be from working or running a business, and you must be under 71 years of age at the end of the financial year. Also, you can’t claim a tax deduction for the personal contribution.

However, in the case of adult kids, they can make the voluntary contribution, get the top-up, then draw it out as a part of the First Home Super Saver scheme, leaving the government’s funds inside their super to grow for the long term.

2. Top up your concessional contributions

The super trick that could slash your tax bill – if you act fast

Now, for those who have a little money sitting around, the first thing to consider is topping up your concessional contributions and getting a tax deduction.

Your employer puts 12 per cent of your salary into super each year. Quite a few people elect to make a salary sacrifice on top. But most people still have room to contribute more to super........

© Brisbane Times