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The calculator shows the lowest, median and highest regular contributions of GESB members like you, based on your salary and whether you have a West State Super or GESB Super account. Have You Read My Other Posts Yet? Work out whether salary sacrifice or after-tax contributions are the best option for you based on your annual income. The projection does not take into account the impact of any additional tax on concessional contributions in excess of the concessional cap after year 1. The Contributions Calculator shows the impact saving a little extra into your super could make on your retirement. It does not include lump sum contributions. Sunsuper members have access to offers and discounts on holidays, experiences and every day items. It also does not take into account whether you have a spouse/partner, (or any spouse/partner contribution strategies), or any assets outside superannuation or income other than your salary. Before making a decision whether to acquire or continue to hold a Suncorp super product, you should read the, SuperRatings Pty Ltd (ABN 95 100 192 283, AFSL 311800) (SuperRatings) does not issue, sell, guarantee or underwrite Suncorp Everyday Super. Find the most tax-effective way to boost your super. Always confirm the details of any super contributions with your accountant or tax agent. Where the total before-tax contributions exceed the concessional contribution cap (indexed at 3.75% p.a. The calculator is based on the income tax rates for Australian residents for the 2019/20 financial year. Togethr Trustees Pty Ltd (ABN 64 006 964 049; AFSL 246383), trustee of the MyLifeMyMoney Superannuation Fund (ABN 50 237 896 957). There are {{optionCount}} ways you could contribute to your super. Combine your super. The calculator does not take into account other items such as the spouse contribution tax offset and the surcharge for private health insurance. Here you can combine or compare your super and see the impact of future contributions. Ask your employer to make regular payments from your after-tax pay. Work out your projected income and pension balance from a Tasplan Pension(s). See how much superannuation should be paid. The calculation includes the government Low Income Superannuation Tax Offset (LISTO) based on your income and contributions. Login . Excess contributions tax is applied to concessional contributions … If eligible, you could receive an additional contribution to your super from the government (50 cents for every $1 contributed, up to a maximum of $500 each financial year). This means in 2020/21 Leyton is able to contribute $40,000 in concessional contributions into his super account. Compare contributions Co-contribution calculator See if you are eligible for a government co-contribution, and work out how much extra you could be entitled to. The different entities of the Suncorp Group are not responsible for, or liable in respect of, products and services provided by other Suncorp Group entities. There are a few ways to make after-tax contributions: Make payments direct from your bank or financial institution using BPAY®. While you need to make your own decision based on your personal situation and goals (and should consider getting advice if you’re unsure), it may be useful to see what others are doing. Will you have enough to retire? Your employer may ask you to provide further information. ... Start the calculator. assumptions based on current tax and super laws, which are consistent with relevant legislation, assumed investment returns which are set by Sunsuper’s Actuary based on our expectations for our default investment options, and. Instructions: Enter your staff's details; Click “Add staff” to add them to the list below. This calculator does not take into account the age pension, however, the amount you have in super, and how you choose to take your super (in a lump sum or as a regular income) could affect your eligibility. assumptions regarding inflation and the cost of rising living standards, which are set by Sunsuper’s Actuary at a level deemed appropriate. Contributions Calculator. Insurance Premium Calculator. Generally, you can access your superannuation after you've retired, but there are instances when you may be able to access super early in Australia. Preservation Age Calculator; Advantages and Disadvantages of Non-Concessional Contributions; Best Time To Retire for Tax Purposes in Australia You can also see if you may even save tax or get an extra contribution from the government. Is it time to take charge? Go to, relevant Suncorp super disclosure documents, Which type of personal contributions could bring the biggest boost to your super, How adding a bit extra to your super could reduce your income tax or may get you a Government co-contribution, How you can make extra contributions into your Suncorp superannuation account. Please note the results provided by this calculator are an estimate only. Try our Contributions calculator to see how it could make a difference to your super balance. Try our Contributions calculator to see how it could make a difference to your super balance. All returns are after investment fees and costs and investment taxes. The Concessional Contributions Cap applies for contributions paid into the Super SA Select Fund. Member login. increase to your super balance at age 67. Access your super. Need to calculate how much super you should be getting from your employer? Get free access to them here. Please note the results provided by this calculator are an estimate only. In fact, there’s a superannuation calculator for just about everything you may need to work out when it comes to your super obligations. To prevent businesses from having to make large super contributions for those employees on very high incomes, there is a maximum recognised income to be used when calculating super. Maximum annual salary for this calculator is $250,000. Join . Choose one fund, and make it a good one. This calculator accepts employer super contribution range of between {min} and {max}%. ), the projected amount assumes that the additional tax payable is paid in the income tax environment and not deducted from super. Any further additional contributions would then be indicated as before-tax contributions, up to the concessional contributions cap, then after-tax contributions thereafter. In providing this information, we have not taken into account … If eligible, you could receive an additional contribution to your super from the government (50 cents for every $1 contributed, up to a maximum of $500 each financial year). About three minutes. Contribution rate needs to … up to age 55, a blend between 6.5% p.a. We’re proud to be named Chant West’s Super Fund of the Year 2020. This superannuation contribution maximiser calculator helps you work out how to boost your Super and understand what additional super contributions will mean for your take home pay. Find extra money for super. You will need to enter your current superannuation balance, an estimated rate of return, your salary for superannuation purposes, and an approximate rate at which you think your salary may increase each year. Determining the size of those contributions can be a challenging process, but this calculator can help. Before-tax contributions (employer contributions, salary sacrifice contributions and after-tax contributions for which a tax deduction is claimed) and after-tax contributions are limited by the respective contributions caps. Get your BPAY number; contact us. It makes it easy to estimate the value of extra contributions and what a … The Government co-contribution has been based on the income thresholds for the 2019/20 financial year. Retirement balance projection. Or call us! Division 293 tax is 15% of your taxable concessional contributions above the $250,000 threshold. Make a contribution MON - FRI 8:30AM - 5PM (NSW TIME) News. Click "Calculate" button to view result. BACK. Before making a decision whether to acquire or continue to hold a Suncorp super product, you should read the relevant Suncorp super disclosure documents, including the product disclosure statement and product guide for the product. Have you registered as an adviser with Sunsuper? NGS MoneyCoach offers a variety of financial education tools to help our members cut through the jargon and make informed decisions about their financial future. Suncorp super products are issued by Suncorp Portfolio Services Limited ABN 61 063 427 958, AFSL 237905, RSE Licence No L0002059 (SPSL) as trustee of the Suncorp Master Trust ABN 98 350 952 022, RSE Fund Registration No. The employer salary sacrifice calculators are designed to help you determine the total contribution you need to make for an employee from their before-tax and after-tax salary, based on the allocation specified by the employee. Contributions Calculator. Suncorp super products are not bank deposits or other bank liabilities and are subject to investment risk including possible delays in repayment and loss of the interest and principal invested. See how much you can receive with this ATO calculator. Contributions calculator. Fixed administration fees and premiums would be payable regardless of any extra contributions. Back to Calculators This calculator enables you to make an estimate of what your superannuation may be worth at a given date in the future. The Contributions Calculator shows the impact saving a little extra into your super could make on your retirement. Important note: your results are subject to certain assumptions (click on the Assumptions link below). As a guide, employers contribute at least 9.5% of an employee's earnings to super. Discover the valuable benefits Sunsuper membership entitles you to. It looks like the best way to maximise the benefits is an after tax contribution. Insurance needs calculator. What is Transition to Retirement? Compare me tool. If you’re self-employed and don’t have to make super payments to yourself, enter 0% and skip onto the next step. Show less. A contribution made by the Australian Government to a person’s superannuation account based on that person's income, source of income and personal super contribution. Personal Super Contributions Calculator Find the most tax-effective way to boost your super. This is general information only and does not take into account your personal objectives, financial situation or needs. Superannuation Guarantee (SG) Eligibility Decision Tool This decision tool is designed to help you understand whether you need to make SG contributions for your employees Concessional (salary sacrifice including SGC) contributions are capped at a maximum of $50,000 (indexed) in the projection of the account balance and are subject to contributions tax of 15%. Employer super calculator. The assumptions used in this calculator are reasonable for the calculator’s purpose. SuperRatings Pty Ltd (ABN 95 100 192 283, AFSL 311800) (SuperRatings) does not issue, sell, guarantee or underwrite Suncorp Everyday Super. When using the calculator, be sure to read the assumptions and disclaimer, so you’re aware of how it works and its limitations. Will we use your feedback to improve your Sunsuper online experience. This calculation is based on your current investment and assets. Calculators can be handy tools to help you explore y Your estimated future balance is based on your current super savings, future contributions and an estimate of investment return over time. As a self-employed individual, we have 2 roles - the business owner and the worker, the employer and the employee. Start calculating. Personal Super Contributions Calculator. This easy-to-use tool lets you compare your super savings balance with the average member by age and gender. It makes it easy to estimate the value of extra contributions and what a … R1056655, which is a related body corporate of … Use our super contributions calculator to see the difference extra contributions could make to your super and retirement. Visit this calculator. - User tips Super Contribution Calculator Use this calculator to see how adding a bit extra to your super now, could make a big difference when it’s time to retire. Get started . Login. No extra fees or commissions. The calculator does not include any fixed administration fee or any insurance premiums this is because it is calculating the potential additional benefit from making extra contributions, and thus only makes an allowance for fees payable on this additional amount. ... Our online portal allows you to manage your employer account details and submit employee super contributions to multiple super funds through the Cbus Clearing House (QuickSuper). Free, accurate, and user-friendly calculator that shows super contributions for multiple employees at once . This clever calculator can show: Which type of personal contributions could bring the biggest boost to your super Our online portal allows you to manage your employer account details and submit employee super contributions to multiple super funds through the Cbus Clearing House (QuickSuper). Super contributions optimiser: Helps you work out which type of super contribution will give your super the biggest boost and how to make super contributions. Information to have ready . Login. Pay calculator. Complete a direct debit form to set up payments from your bank or financial institution. The calculator only allows for employer contribution rates between 9.5% and 20%. This calculator helps estimate how much money you could get in retirement, how long your super could last and how adding a few extra dollars to your super now, could make a … Accurate Super declarations with Tanda. You can make concessional (before-tax) contributions to your super of up to $25,000 each financial year. Sunsuper’s award-winning Retirement income account could be much smarter than withdrawing all your money at once when you stop working. There's a super calculator for that. Making super contributions once you reach age 67 is more difficult as you need to meet the requirements of a work test. Boost your super. It looks like the best way to maximise the benefits is a combination of before and after tax contributions. Information you need. Discover not only how you can benefit from making extra contributions to your super, if you're on track for retirement, and how your investment choice can make a difference over time. Solo 401(k) Contribution Calculator Login. Contributions in excess of these amounts will be taxed at your marginal tax rate. Contributing ${{beforeAfterTax | formatNumber}}{{frequencyText}} to your super would reduce your take home pay by ${{payReduction | formatNumber}}{{frequencyText}}. The projected amount assumes the extra contributions are indexed at 3.75% p.a. These are contributions you could make into your spouse’s super account, which you may want to do if they’re a low-income earner or not working at the moment. The projected amount is expressed in today's dollars which means the projected amount has been adjusted by a discount rate to express the balances in today's buying power. You can you use this email template to request your employer make regular salary sacrifice contributions. Super contributions optimiser. Join Sunsuper's Chief Economist and Head of Advice and Retirement as they discuss investments, super and how to achieve your retirement dreams. In 2020-21, once an employee’s income reaches $228,360 per year, then the super is calculated based on that maximum, it does not keep rising. Need a hand? Consider whether you need financial advice from a qualified adviser. and 5.75% between ages 56 and 64, and 5.75% p.a. Smart moves with how you invest your super today can help you achieve your retirement dreams tomorrow. If you’re younger or older than this and need help please contact us. Employer Super Calculator. The projected amount at age 67 is based on the assumptions below. Actual outcomes will depend on a range of factors outside the control of Sunsuper. Preservation age explained . Simple personal income tax. Super contribution calculator. The calculator limits the amount of before-tax contributions to this before-tax cap and does not take into account “catch up” concessional contributions (where, subject to meeting certain conditions, unused portions of the cap from prior years can be rolled over and used in future years). If having more money in retirement sounds good to you, you might be interested to know that there are more ways than one to top up your super. The calculator does not take your super balance into account with regard to after-tax contributions. As this is a public website, we can't respond to your feedback directly. You should keep this in mind when planning for retirement, and consider getting advice from a licenced financial adviser. Where the account balance would exceed the “transfer balance cap” ($1,600,000 for 2019/20), earnings on the amount in excess of the cap do not include the adjustment, as such amounts would normally remain in the accumulation phase, where investment tax applies. Quiz: Boosting your super with super contributions. On top of that, you may be eligible for a tax offset of up to $540 depending on how much you contribute. We support local causes that help improve the lives of many Australians and our communities. There are two ways to make before-tax contributions: Salary sacrifice contributions are made through an agreement with your employer. Government Low income tax rates for Australian residents for the 2019/20 financial year 145 290 124 the last year! 56 and 64, and 5.75 % between ages 56 super contributions calculator 64, and calculator! 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