You can boost your super by adding your own contributions to your super fund. And you can do this by paying personal super contributions or choosing a salary-sacrifice arrangement.
Personal super contributions are the amounts you contribute to your super fund from your after-tax income (that is, from your take-home pay). These contributions:
- are in addition to any compulsory super contributions your employer makes on your behalf
- do not include super contributions made through a salary-sacrifice arrangement.
Personal contributions are non-concessional (after-tax) contributions and will count towards your non-concessional contributions cap unless you have claimed a tax deduction for them.
Salary sacrifice is where you choose to make superannuation contributions from your pre-tax income. As a Flinders University employee, you can choose to make additional voluntary payments to your superannuation fund from your pre-tax salary. This benefit is available to all eligible employees. Casual employees wishing to make a voluntary contribution towards superannuation can only nominate a % of earnings contribution rather than a fixed amount.
These contributions are also treated as employer contributions and the employee's taxable income will be reduced by the amount of the contribution. A 15% concessional contributions tax will be deducted by the superannuation fund and no personal income tax will be payable on contributions made in this way.
Salary sacrifice contributions count towards the concessional contribution cap limit. The University take no responsibility if an employee’s salary sacrifice superannuation contribution results in a staff member exceeding concessional contribution caps.
These salary sacrifice contributions are exempt from Fringe Benefits Tax (FBT) but are deemed Reportable Employer Superannuation Contributions (RESC) and commencing 2009/2010 financial year will be reported on an individual’s payment summary.
Before choosing to make salary sacrifice superannuation contributions, you should refer to the Flinders University Enterprise Agreement 2019-2022, Part 3 21. Salary Sacrifice and the salary sacrifice terms and conditions and disclaimer.
Employees wishing to commence or make changes to their existing voluntary pre-tax super contributions must complete a Voluntary Superannuation Contribution / Salary Sacrifice Form, the form must be sent to firstname.lastname@example.org for processing.