CareSuper - Salary Sacrifice Calculator

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Results

	Annual salary and tax details		After-tax contribution			Salary sacrifice contribution


	Gross income
	Salary sacrifice contributions
	Taxable income
	PAYG tax
	After-tax contributions
	Take-home pay

	Super contributions		After-tax contribution			Salary sacrifice contribution


	Employer SG contributions
	Salary sacrifice contributions
	Contributions tax
	After-tax contributions
	Government co-contributions		0			0
	Net super contributions



	Total take-home pay and net super contributions
	Further tax may be payable when you leave a superannuation fund.


Use the salary sacrifice calculator to help you:
1.	See the impact of salary sacrifice on your take home pay.
2.	Compare the difference between making super contributions before (salary sacrifice) and after tax.

Assumptions


1.	Tax rates and the Medicare levy used within the calculations are current as at 1 July 2010. The PAYG tax calculation takes into account the Low Income Tax Offset calculation effective at 1 July 2010. The Medicare levy rates used does not take into account low income for families. The Medicare levy surcharge has not been included in this calculator.
2.	The calculator only considers your annual, monthly, weekly or fortnightly super salary. Any income you may have received from other sources has been ignored.
3.	The SG contribution amount of 9% is calculated on the gross income amount entered only. No allowance has been made for the Maximum superannuation contribution base ($42,220 per quarter for the 10/11 financial year).
4.	No allowance has been made for taxes (including tax that applies to the payment of superannuation and retirement income benefits) with the exception of personal income tax and contribution tax. If any other taxes apply, the results will be incorrect and you should disregard them.
5.	Co-contribution has been included in the calculation. This has been based on the Gross salary and After tax contributions that have been entered into the calculator. The Co-contribution rate is current from 1 July 2010.
6.	Concessional (Salary Sacrifice including SGC) contributions are capped at a maximum of $25,000 (or $50,000 if you are over age 50) and are subject to contributions tax of 15%. Note the concessional caps commence from 1 July 2010 and the $25,000 (or $50,000 if you are over age 50) limit mentioned previously is for the 2010-2011 financial year.
7.	Since comparatives are based on the same contribution the after-tax contribution cap is limited to the $25,000 (or $50,000 if you are over age 50) concessional contributions cap.
8.	Transitional contribution caps apply to this calculator.
9.	Superannuation Guarantee contributions cease at age 70.
10.	You are under age 70.
11.	No allowance has been made for spouse contributions.

If your actual situation differs from the assumptions made, then the calculations may differ from your actual amounts.

Disclaimer