Flinders University employees have the opportunity to salary sacrifice superannuation contributions. This benefit is available to all eligible employees, casual professional and casual academic employees.
Salary sacrifice contributions count towards the Concessional Contribution Cap limit. Concessional contributions are taxed at 15% and include voluntary Salary Sacrifice Contributions, standard Salary Sacrifice Contributions and employer Contributions. 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 Fringe Benefits (RFB) and commencing 2009/2010 financial year will be reported on an individual’s Payment Summary.
The below table details the process to follow when requesting superannuation salary sacrifice, before applying the superannuation information outlined on the following page must be read in conjunction with the Salary Sacrifice Terms and Conditions and Enterprise Agreement 2014–2017, Clause C14.5 Salary Sacrifice.
How to apply
|UniSuper Standard Contributions||Salary sacrifice standard member contribution.||Complete UniSuper Contribution Form and return to firstname.lastname@example.org||N/A|
|UniSuper Voluntary Contributions||Salary sacrifice additional voluntary contributions.||Complete UniSuper Contribution Form and return to email@example.com||N/A|
|Private Super Fund||Salary sacrifice contributions to a self-managed super fund.||Complete External/Private Superannuation Contribution Form and return to firstname.lastname@example.org.||
$100 to commence
$50 any changes
|External Super Fund||Salary sacrifice contributions to external funds||Complete form External/Private Superannuation Contribution Form and return to email@example.com.||
$100 to commence
$50 any changes
Standard Superannuation Contributions
UniSuper members with Defined Benefit Division (DBD) or Accumulation 2 accounts may elect to salary sacrifice their 7% standard contributions. If an agreement is entered into, the University will make the contributions to UniSuper on their behalf.
Salary sacrificing changes the contribution from a 7% employee contribution to an 8.25% employer contribution. All employer contributions are taxed at 15% on entry to the fund and in order to retain 7% net contribution, UniSuper requires all salary sacrificed contributions be at the rate 8.25% of superannuable income. UniSuper will forward the 15% contribution tax to the ATO.
Employees wishing to salary sacrifice and change their standard contributions to pre-tax must complete a UniSuper Contribution Form, the form must then be sent to firstname.lastname@example.org for processing.
Voluntary Super Contributions
Employees can elect to make additional voluntary contributions to UniSuper from pre-tax salary.
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% contributions tax will be deducted by the superannuation fund and no personal income tax will be payable on contributions made in this way. It should be noted that UniSuper charge an administration fee on voluntary contributions.
Employees wishing to commence or make changes to their existing voluntary pre-tax super contributions must complete a UniSuper Contribution Form, the form must be sent to email@example.com for processing.
For further information on Standard and Voluntary UniSuper Contributions, please contact UniSuper on 1800 331 685 or contact the on-site consultant.
External and Private Superannuation Funds
Private Super Fund
Salary sacrifice contributions can be made to of a self-managed superannuation fund that an employee if a member of, the fund must be a resident regulated superannuation fund within the meaning of the Superannuation Industry (Supervision) Act 1993 (SIS Act) and is not subject to direction under section 63 of the SIS Act. The fund must also satisfy subsection 25(1) of the Superannuation Guarantee (Administration) Act 1992. Applications should be made by completing the External/Private Superannuation Contribution Form.
External Super Fund
External super funds are all other funds outside of UniSuper, Super SA, Flinders University Super Scheme and private superannuation funds. Applications should be made by completing the External/Private Superannuation Contribution Form.
There is a $100 commencement fee when setting up a salary sacrifice to an External or Private Super Fund and a $50.00 charge for any change to the amount sacrificed to those funds.