As the end of the 2024–25 financial year approaches, it’s an opportune time to ensure you’re taking full advantage of the superannuation planning strategies available to you.
Whether you’re a hospital-based doctor, private practitioner, or somewhere in between, understanding your super contributions—and how they fit into your broader tax and retirement planning—is essential.
Here’s what you need to know to optimise your super strategy in 2025.
Concessional Contributions (CC) – Pre-Tax
One of the most effective ways to boost your superannuation is through personal deductible contributions. In 2025, the concessional contributions cap remains at $30,000. This means that individuals under 75 (who meet the work test if aged between 67 and 75) can make personal deductible contributions up to this cap and claim a tax deduction.
You are now able to maximise your concessional contribution cap through the following contributions:
- Employer Super Guarantee (SG) contributions
- Salary sacrifice contributions
- Personal Deductible Contributions (PDC)
Why this matters for doctors:
Previously, medical professionals and other specialists had restrictions based on their income source. However, under current rules, anyone can make personal deductible contributions, regardless of whether their income comes from public or private sources.
Medical professionals with mixed income streams (e.g. public hospital salary + private practice) are no longer disadvantaged. Even if most of your income comes from the public system, you can still make additional personal deductible contributions to reach the cap and claim the deduction.
Example: Dr Mary in 2025
Mary, an Anaesthetist, earns $200,000 from public hospital employment and an additional $180,000 through private billings. Her SG contributions are $23,000 for the year. To fully utilise her $30,000 concessional cap, Mary could make a personal deductible contribution of $7,000, claim it as a tax deduction, and increase her retirement savings in a tax-effective way.
Catch-Up Contributions: A Key Opportunity 🔑
If your Total Superannuation Balance (TSB) was below $500,000 on 30 June 2024, and you haven’t used your full concessional cap in the previous five years (from FY2018–19 onward), you may be eligible to carry forward unused concessional caps.
This means you could contribute more than $30,000 in 2025, potentially making significant top-ups and deductions—particularly helpful if you’ve had high income or a capital gain this year and want to reduce your tax.
Non-Concessional Contributions (NCC) – After-Tax
The non-concessional cap for 2024–25 is $120,000 per year, or up to $360,000 under the bring-forward rule if you’re under 75 and eligible.
To be eligible for any non-concessional contributions:
- If your TSB is below $1.9 million, you can make non-concessional contributions.
- If your TSB exceeds $1.9 million, you are restricted from making further non-concessional contributions.
Why this matters:
Non-concessional contributions are not taxed on the way in, and all investment earnings in super are taxed at just 15% (or 10% for long-term capital gains)—a major advantage over marginal tax rates of up to 47%.
For doctors in strong financial positions, after-tax super contributions are one of the best long-term wealth strategies, especially as you approach retirement and want to move more assets into a low-tax environment.
Superannuation Guarantee (SG) Increase
In FY2024–25, the SG rate is 11.5%. It’s legislated to reach 12% by 1 July 2025.
Planning tip:
For doctors on payroll (public or private), review your employment contract to understand how superannuation contributions are structured. Are they paid on top of your base salary, or absorbed within a total remuneration package? This matters—especially with the SG (Superannuation Guarantee) rate increases—because if super is included in your total package, the rise may reduce your take-home pay unless your employer adjusts the total accordingly. High-income earners should also be aware that employers aren’t required to pay SG contributions above the maximum super contribution base. This ensures you’re receiving the full benefit of the SG rate increase.
Income Streams: Account-Based Pensions (ABP)
If you’re over 60 and have retired (or met another condition of release), converting your super into an Account-Based Pension (ABP) allows:
- Tax-free income stream (to maintain tax-free status, retirees must withdraw the minimum pension amount each year before June 30)
- Tax-free investment earnings on the underlying pension balance (up to the Transfer Balance Cap)
The general Transfer Balance Cap for the 2024-25 financial year is currently $1.9 million. This is set to increase to $2 million for the 2025-26 financial year. This is the maximum you can transfer into retirement phase income streams with tax-free earnings.
Minimum drawdowns:
Ensure you meet the minimum pension withdrawal requirements based on your age by 30 June to retain the tax-free status of your ABP.
| Age | Minimum Annual Drawdown (% of account balance) |
| Under 65 | 4% |
| 65 – 74 | 5% |
| 75 – 79 | 6% |
| 80 – 84 | 7% |
| 85 – 89 | 9% |
| 90 – 94 | 11% |
| 95 + | 15% |
Transition to Retirement Income Streams (TRIS)
TRIS arrangements are still available to those aged between 59 and 64 who haven’t yet retired but want to supplement income. However:
- Investment earnings on TRIS are taxed at 15% unless a full condition of release (such as retirement) is met
- Once you officially retire or turn 65, your TRIS can convert to an ABP, and earnings become tax-free
- If you are under 65 and no longer working, it’s crucial to inform your super fund to ensure you are not paying unnecessary tax.
TRIS may still be suitable in certain strategies, such as re-contribution strategies or debt reduction, but should be reviewed carefully.
Other Tips for 2025 EOFY Super Planning
- Check your 30 June 2024 Total Super Balance to understand your contribution eligibility for the current year.
- Verify your caps via MyGov to avoid excess contributions.
- Plan early—don’t leave contributions until the last week of June, as some funds require processing time.
- Review insurance inside super—especially if making large contributions that could affect your cash flow.
- For high-income earners (above $250,000), be aware of Division 293 tax, which applies an extra 15% tax on concessional contributions.
In Summary
EOFY super planning in 2025 offers more flexibility and opportunity than ever—especially for medical professionals with variable income sources. Whether you’re a registrar starting to build your super, a consultant looking to reduce tax, or preparing for retirement, the key is personalised advice and proactive planning.
If you’re unsure about your optimal contribution strategy, DPM’s specialist financial advisors are here to help tailor a solution that works for your career stage, cash flow, and retirement goals. Please book a free, no-obligation consultant with one of our expert wealth team here.
Disclaimer: * The information contained in this site is general and is not intended to serve as advice as your personal circumstances have not been considered. DPM Financial Services Group recommends you obtain personal advice concerning specific matters before making a decision.
