Super funds and tax

Information about employer superannuation contributions, personal contributions and tax

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Employer Superannuation contributions

Unless a specific enterprise agreement or award states otherwise, employers are required to pay a set rate of superannuation into each employee's super fund.

The rate is 10.00% of the employee's income and is set to increase gradually over the next few years.  

For super purposes, 'income' includes regular wage, shift loading and some allowances but not overtime payments.  However, overtime that is regularly rostered is included as income.

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Salary Sacrifice (reportable super)

Employees can  request to deduct extra super from their pre-tax income, and pay it into their super fund.  This is called salary sacrifice and it gives the employee tax and retirement income benefits.

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Tax deducted from your Pay

The ATO provides tax tables to assist you to understand how much to tax is withheld from your pay. 

 

Links:

Super SA web site

Australian Taxation Office (ATO) - Super

Australian Taxation Office (ATO) - Fortnightly tax table (Payment on or after 13 October 2020)

Reportable Superannuation - Facts for Employees

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