The salary super calculator, below, will allow you to calculate the superannuation guarantee contributions to be received from your employer into your super account, based on your superannuation income and the superannuation rate.
Super Calculator For Your Salary
Use the superannuation guarantee calculator, below, to calculate your expected superannuation guarantee (SG) payments.
How To Use the Super Calculator For Your Salary
Follow these steps to use the superannuation guarantee calculator, above:
- Type in your annual salary, plus bonus.
- This will automatically calculate your annualised Superannuation Guarantee (SG) entitlement, which is the amount your employer must pay into your super account.
- This is the calculation of the maximum amount that your employer is required to contribute to your super account each financial year.
- This is the monthly calculation of your expected SG contributions.
- This is the fortnightly calculation of your expected SG contributions.
- This is the weekly calculation of your expected SG contributions.
What Are Superannuation Guarantee Contributions?
Superannuation guarantee contributions are contributions that must be paid into your superannuation account by your employer – often referred to as employer super contributions. These payments are mandatory.
The payments into your super account must be made on at least a quarterly basis, but are more often made on a monthly basis, or in line with your pay periods.
What Is the Super Guarantee Calculation & Rate?
The superannuation guarantee rate is equal to 11% of your salary (ordinary time earnings), up to the maximum contribution base. Your employer must pay this amount into your complying superannuation fund.
The maximum contribution base is the maximum level of income earnings per quarter that your employer is required to pay SG on. The 2023/24 maximum contribution base is $60,220 per quarter.
For example, if you are on a salary of $100,000 per annum, the superannuation guarantee calculation would be $100,000 x 11% = $11,000 per year. However, if you earn, say, $350,000 per annum, your employer is only legally required to pay super on 11% of $62,270 x 4, which equates to $227,399.
In saying this, some employers may choose to pay superannuation guarantee contributions in excess of the standard rate, or not limit the contributions you receive by the maximum contribution base.
When To Use a Superannuation Calculator For Your Salary?
You can use the superannuation guarantee calculator to project the amount of employer SG contributions you expect to receive during a financial year – or even next pay period.
You might even choose to use this calculator to ensure that your employer has been applying the correct superannuation rate to your superannuation guarantee calculation.
If you believe you have not received the correct superannuation payments, you should contact your employer, first, to see if there has been some type of misunderstanding. If the issue is not resolved, you may wish to report unpaid super contributions to the ATO, which can be done here.
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