Contributions calculator

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Your Situation

Before Tax
9.5% is typically the minimum contribution rate

Terms and Conditions

Notes and Assumptions

This calculator is intended to provide illustrative examples based on your inputs and stated assumptions. This calculator is not intended to be used as a substitute for professional advice. Consumers should consider obtaining advice from a licensed professional before making any financial decision. Actual outcomes may vary depending on a range of factors outside the control of The Super Fund Co. The Super Fund Co and its employees disclaim all liability and responsibility to any person who relies, or partially relies, upon anything done or considered to be to be done by this service.

Tax

The calculator is based on the income tax rates for Australian residents for the 2014/15 financial year and the rates include the Medicare levy. The calculator does not take into account other items such as low income tax offset, mature age worker tax offset, spouse contribution tax offset and the surcharge for private health insurance. Contribution tax of 15% is assumed to apply to employer contributions and the salary sacrifice contributions.

Contribution Cap

The limit for concessional contributions (employer and salary sacrifice contributions) for 2014/2015 is $30,000 except for individuals aged 50 and over at any point during the financial year where the limit is $35,000. Where the total concessional contributions has reached or exceeded the contribution cap, the calculator limits the amount of salary sacrifice contributions. The limit for non-concessional contributions (after-tax contributions) for 2014/2015 is $180,000 in a year or $540,000 averaged over 3 years. This calculator is not designed to take into account non concessional contributions.

Government contributions

This calculator does not take into account Government co-contribution or the Low Income Super Contribution (LISC).

Projected amount at age 65

The projected amount at age 65 is based on the assumptions and is a general illustration only. The projected amount is expressed in today's dollars. Therefore, the projected amount has been adjusted by a rate of inflation to express the balances in today's buying power. The assumed rate of inflation is 3.75% pa. The projected amount assumes that you continue to contribute the selected extra contribution until age 65. The projected amount assumes the extra contributions are indexed at 3.75% pa, a rate of investment return of 7.0% pa after investment fees and tax. No allowance has been made for the withdrawal of insurance premiums.

This calculator only allows the consumer to contribute the maximum concessional contribution cap and does not take into account non concessional contributions. Please seek advice from a licensed professional if you wish to contribute additional funds into superannuation.

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