Assumptions

1. The calculator only considers your annual, monthly, weekly or fortnightly taxable salary (superable) as the only source of income. Any income you may have received from other sources has been ignored.
2. The SG contribution amount of 10% is calculated on the gross income amount entered only. No allowance has been made for the Maximum superannuation contribution base ($58,920 per quarter for the 21/22 financial year).
3. The contributions are made within the same financial year.
4. The 'Contribution level' refers to the sum of the salary sacrifice contributions plus the after-tax contributions less the contribution tax (15%) on the salary sacrifice contributions.
5. PAYG tax is calculated using the personal marginal income tax rates plus Medicare levy effective from 1 July 2021 with a tax-free threshold and no leave loading. The PAYG tax calculation takes into account the Low Income Tax Offset (LITO) and the Low and Middle Income Tax Offset (LMITO) calculations effective 1 July 2021. The Medicare levy rates used do not take into account low income for families. The Medicare levy surcharge has not been included in this calculator.
6. No allowance has been made for taxes (including taxation that applies to the payment of superannuation and retirement income benefits) with the exception of personal income tax and contributions tax. If any of these other taxes apply, the calculator's results will be incorrect.
7. Co-contribution and Low Income Superannuation Tax Offset have been included in the calculation. This has been based on the Gross salary and After-tax contributions that have been entered into the calculator. The Co-contribution rate is current from 1 July 2021.
8. Low Income Superannuation Tax Offset has been included in the calculation.
9. It is assumed that the Government co-contribution for the after tax contributions made during the relevant year is paid at the end of that year.
10. Concessional contributions (employer contributions including SG and salary sacrifice contributions) are capped at a maximum of $27,500 and are subject to contributions tax of 15%.
11. Since comparatives are based on the same contribution the after-tax contribution cap is limited to the concessional contributions cap.
12. You are greater than 18 years of age.
13. No allowance has been made for spouse contributions.
14. No allowance has been made in this calculation for inflation or other changes in the cost of living.

If your actual situation differs from the assumptions made, then the calculations may differ from your actual amounts.

Disclaimer

Issued by Togethr Trustees Pty Ltd ABN 64 006 964 049, AFSL 246383 (“Togethr”) is the trustee of the Equipsuper Superannuation Fund (ABN 33 813 823 017) (“The Fund”). MyLife MySuper is a division of the Fund. The information contained herein is general information only. It has been prepared without taking into account your personal investment objectives, financial situation, or needs. It is not intended to be, and should not be, construed in any way as investment, legal or financial advice. Please consider your personal position, objectives, and requirements before taking any action. Togethr Financial Planning Pty Ltd (ABN 84 124 491 078; AFSL 455010), trading as MyLife MyAdvice. Togethr Financial Planning Pty Ltd is a related entity of Togethr Trustees Pty Ltd (ABN 64 006 964 049; AFSL 246383), the trustee of the Equipsuper Superannuation Fund (ABN 33 813 823 017) ("the Fund"). Catholic Super, MyLife MySuper and MyLife MyPension are divisions of the Fund.