Salary sacrifice calculator
What does this calculator do?
This calculator helps you see how much you can save by salary sacrificing your superannuation contributions.
You have the option of reinvesting any saving you may receive. To see the effect of doing this, use the 'match net pay' button. This will automatically work out how much you can salary sacrifice while maintaining the same take home pay. You can also adjust your investment using the +/- buttons to see the effect on your take home pay.
1. Contributions that employees of the Queensland Government or a related entity are required to pay to QSuper are referred to as standard contributions. Only employees of the Queensland Government or a related entity make standard contributions. If you work for a non-Queensland Government employer, please select 0% in the standard contributions field.
2. Contribution amounts are concessional (before-tax) contributions. Contribution caps apply.
Points to consider:
You should check with your employer to confirm you are eligible to salary sacrifice superannuation contributions.
This calculator assumes that members with State accounts contribute 5% to their accounts and that members with Police accounts contribute 7%. The contribution rate is fixed for members of these accounts, however may not be the same as these defaults. You are able to override the calculator to reflect your personal contribution rate.
This salary sacrifice calculator has been prepared for general information purposes only. The calculator is based on 2011/2012 marginal tax rates and our interpretation of tax laws. It uses the PAYG withholding tax fortnightly coefficients to calculate the tax payable and assumes 26 pay cycles per year. This may differ from your final tax liability for the financial year.
Accumulation account members need to be aware of the 15% contributions tax, which applies to salary sacrifice contributions as they are paid into superannuation. The contributions tax is not included in the above calculation and therefore less money than indicated would actually accumulate in your account. However, you can increase your superannuation benefits by making additional voluntary contributions. For Defined Benefit members, the calculator automatically 'grosses up' contributions by 15% to cover this tax and ensure your multiple continues to accrue at the same rate as it would if you weren't salary sacrificing.
This calculator does not replace personal financial advice and you should seek specific professional advice prior to acting on any information. QSuper also recommends you read our disclaimer.