This calculator conforms to ATO tax rates according to "Statement of formulas for calculating amounts to be withheld".
The salary sacrifice saving is based on a reduction in your take home pay according to PAYG tables, not your end of your tax assessment.
The "at retirement this could add" outcome uses an actuary projection and the following assumptions:
- Assumes Salary increase of 3.5% per annum.
- Assumes Investment Returns of 5.7% per annum (gross of taxes and fees at 7.5%) including taxes of 15% deducted.
- Investment returns are assumed to be credited to members' accounts annually.
- Superannuation Guarantee Contribution starts from 9.5% at July 1st 2016 and then increases to 12% as per current legislation
- The LISC applies only until 2016/17 as per current legislation
- Contribution tax of 15% is assumed
- Contributions are assumed to be made annually, at the mid-year point
- Fees are assumed to be deducted annually
- A tax rebate of 15% is assumed on fees deducted from members' accumulation accounts
- 2.5% inflation per annum is assumed
- Average fees assumed
- 0% on contributions
- $50/year member fee
- 1.1% asset fee
- No deductions are made for insurance premiums
Consider a fund’s PDS and your objectives, financial situation and needs, which are not accounted for in this information before making an investment decision. Your retirement outcome will be affected by many things including the amount of contributions you make, fees, investment returns and regulatory changes. Some factors that may affect your retirement outcomes may not have been taken into account.