British Expats
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British Expats (https://britishexpats.com/forum/)
-   Australia (https://britishexpats.com/forum/australia-54/)
-   -   Superannuation Queries (https://britishexpats.com/forum/australia-54/superannuation-queries-687804/)

ABCDiamond Oct 5th 2010 11:19 pm
Re: Super Contribution Question (Contribute from my own salary)
 
Originally Posted by EvannTel (Post 8894441)
But also if you are in the 15% tax band then contibuting to super saves you nothing and might as well pay the income tax and invest it somewhere more flexible.
The 'Super Co-contribution' scheme makes it very worthwhile to put at least $1,000 into super yourself, even if you pay no tax :thumbup:

PeterDeng Oct 6th 2010 12:53 am
Re: Super Contribution Question (Contribute from my own salary)
 
Originally Posted by ABCDiamond (Post 8899260)
The 'Super Co-contribution' scheme makes it very worthwhile to put at least $1,000 into super yourself, even if you pay no tax :thumbup:
How do i know i am eligible to have Super Co COntribution?

Pollyana Oct 10th 2010 12:22 am
Re: Superannuation Queries
 
I've merged your / threads together as it makes them easier to follow and answer.

llanfachreth Oct 10th 2010 12:59 am
Re: Super Contribution Question (Contribute from my own salary)
 
Originally Posted by PeterDeng (Post 8899485)
How do i know i am eligible to have Super Co COntribution?
Depends on your income. If you earn less than the threshold the government will match it all up to $1000. If you earn more the amount they will match reduces the more you earn.

man777 Oct 10th 2010 5:37 am
Re: Superannuation Queries
 
Hi evryone,

Sorry i kow this might have been somewhere in super thread but not able to find it.
I just want to know if total package includes super contributions from both employee and employer and there is some LAFHA amount also then how would you calculate the net take home salary. My understanding is that LAFHA amount is completely tax free.

Thanks for any advice. I have this sheet with my from some other thread but is it right to say that super is deducted from total amount rather than what is left after LAFHA deduction.

Thanks and cheers:D

man777 Oct 10th 2010 5:41 am
Re: Superannuation Queries
 
Hi evryone,

Sorry i kow this might have been somewhere in super thread but not able to find it.
I just want to know if total package includes super contributions from both employee and employer and there is some LAFHA amount also then how would you calculate the net take home salary. My understanding is that LAFHA amount is completely tax free.

Thanks for any advice. I have this sheet with my from some other thread but is it right to say that super is deducted from total amount rather than what is left after LAFHA deduction.


Also if I decide to move back to the UK after 4 years would I be able to get the company part of super contribution or just the employee contribution?
Thanks and cheers:D

ABCDiamond Oct 10th 2010 10:34 pm
Re: Superannuation Queries
 
Originally Posted by man777 (Post 8909240)
Hi evryone,

Sorry i kow this might have been somewhere in super thread but not able to find it.
I just want to know if total package includes super contributions from both employee and employer and there is some LAFHA amount also then how would you calculate the net take home salary. My understanding is that LAFHA amount is completely tax free.

Thanks for any advice. I have this sheet with my from some other thread but is it right to say that super is deducted from total amount rather than what is left after LAFHA deduction.

Thanks and cheers:D
Technically, the employer can calculate the 9% based on your salary, ie: Not on the LAFHA. It is down to the employer if they wish to pay more.

The employees personal super contributions, if they wish to make any, does not come into the equation, as that is voluntary.


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