Is there a good calculator online that could work out your take home?
Jan 20th 2009, 6:44 pm
#16
BE Forum Addict
Joined: Oct 2006
Location: Yarraville, West Melbourne
Posts: 1,014
Re: Is there a good calculator online that could work out your take home?
NORMALLY super is 9% and it comes out of the employee's salary. SOME employers quote SUPER as a seaprate amount and some consider it included in total salry (which some call TOTAL REMUNERATION).
If salary INCLUDES super and total salary is 100,000, then the TAXABLE salry is 100,000/1.09 or $91,743. The other $8256 is what goes into his Super account.
The $91743 is then taxable; the first $6000 is tax free.
Use the spreadsheet and enter the TOTAL annual salary and then the super % (normally 9%) and the rest gets calculated for you.
I am not promising complete accuracy (not least I have not included medicare) but it will be very close in gettign your take home banked money correct.
You can then also use the spreadsheet to see the impact of asking for more ANNUAL SALARY and how it impacts on take home pay.
PM me if you require specific assistance
If salary INCLUDES super and total salary is 100,000, then the TAXABLE salry is 100,000/1.09 or $91,743. The other $8256 is what goes into his Super account.
The $91743 is then taxable; the first $6000 is tax free.
Use the spreadsheet and enter the TOTAL annual salary and then the super % (normally 9%) and the rest gets calculated for you.
I am not promising complete accuracy (not least I have not included medicare) but it will be very close in gettign your take home banked money correct.
You can then also use the spreadsheet to see the impact of asking for more ANNUAL SALARY and how it impacts on take home pay.
PM me if you require specific assistance
Jan 20th 2009, 9:59 pm
#17
Guest
Posts: n/a
Re: Is there a good calculator online that could work out your take home?
Superannuation
Your employer must pay super for you if you are eligible. To be eligible you must be:
Generally, you can choose the super fund you want your super contributions paid into as long as it is a complying super fund
Eligible temporary residents can access their superannuation (subject to withholding tax) when they permanently leave Australia.
http://www.australia.gov.au/Superannuation
http://www.ato.gov.au/super/
If the Government chooses to increase the Super %, it is the employer who pays it. It does not reduce your income.
Your employer must pay super for you if you are eligible. To be eligible you must be:
- aged 18 years or over but under 70 years of age, and
- paid at least $450 (before tax) in a calendar month.
Generally, you can choose the super fund you want your super contributions paid into as long as it is a complying super fund
Eligible temporary residents can access their superannuation (subject to withholding tax) when they permanently leave Australia.
http://www.australia.gov.au/Superannuation
http://www.ato.gov.au/super/
If the Government chooses to increase the Super %, it is the employer who pays it. It does not reduce your income.
