CONTRIBUTION CALCULATOR

Would you like to complete a contribution form?

Will you do this through your employer? click here

Or by cheque? click here
This calculator generates factual information illustrating the effect of salary sacrifice and Government co-contribution on take home pay and superannuation contributions based on certain assumptions. It is intended for educational and information purposes only and does not constitute a recommendation or statement of opinion about super contributions. For this reason you should not make any decision on the information provided without first consulting a licensed, or appropriately authorised, financial adviser.

A basic assumption of the calculator is that you have supplied your Tax File Number to your superannuation fund. If this is the case, please confirm the following statement (the calculator will not proceed, otherwise):

To the best of my knowledge and belief no contributions will be paid to my superannuation fund until I have provided my Tax File Number.

From 1 July 2007 there are significant taxation penalties if your contributions to superannuation exceed certain limits. In broad terms these limits for the 2008/2009 financial year are:

  • If you are under the age of 50 at 30 June 2009, the limit for concessional (or pre-tax or salary sacrifice) contributions is $50,000 in 2008/2009.
  • If you are age 50 or over as at 30 June 2009, the limit for concessional contributions has a level of $100,000 for 2008/2009.
  • Non concessional (i.e. undeducted) contributions have a limit of $150,000 in 2008/2009.
  • People under 65 can make up to $450,000 non-concessional contributions in one year (but the non-concessional contributions are limited in the next two years so that no more than $450,000 has been contributed over the three years).
This calculator assumes that you have not exceeded these limits. In some instances the calculator will prompt you or constrain you about your input contribution levels, but the responsibility to not exceed the limit is yours.

Enter your details below to see the impact of salary sacrifice and Government co-contributions on your take home pay and super contributions.
Gross salary or wages ($):

Enter (key in) the amount of money paid to you as an employee working for your employer before any tax is taken out.		  per 
Total annual assessable income* plus reportable fringe benefits# ($):

Enter (key in) the amount you wrote at total income or loss on your tax return plus the reportable fringe benefits amount shown on your PAYG payment summary for the same year.

The Calculator will use this amount to work out Government co-contributions (if any).

If you do not enter a figure here, the Calculator will use the amount you entered in "Gross salary" (or wages).
Personal contributions:  
  Enter (key in) the amount of contributions you are thinking about make to your super  
  Percentage of gross salary
or $ amount  per 
Results given in amounts per:  
  The results will be shown as annual figures. If you would like to see the weekly, fortnightly or monthly figures please select using the box
*What is assessable income?
Assessable income is income that can be taxed by Australian Taxation Office. It includes, for example, salary and wages, interest from bank accounts, dividends and income from investments, bonuses and overtime, commissions from sales, and pensions. This amount will generally be the amount you write at total income or loss on your tax return for individuals non business.

#What are reportable fringe benefits?
A fringe benefit is a benefit provided to you (or say your spouse or children) because of your employment. A benefit could be:
  • the use of something, for example, a car, house or equipment
  • ownership of something, for example, items of clothing, or
  • enjoyment of a privilege or facility, eg when you are provided with a cheap loan, free private health insurance or enter into a salary sacrifice arrangement.
If the value of certain fringe benefits provided exceeds $2,000 in a fringe benefits tax year (1 April to 31 March), your employer must record the grossed-up taxable value of those benefits on your payment summary for the corresponding income year (1 July to 30 June).

As you do not pay income tax on fringe benefits, the grossed-up taxable value of a benefit reflects the gross salary that you would have to earn to purchase the benefit from after-tax dollars.