Your guide to
salary sacrifice
and the Government
co-contribution
8 December 2015
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Contents
Your guide to salary sacrifice and the Government co-contribution
Contents
SectionPage
1 Growing your super makes sense
3
2 Salary sacrifice
4
Salary sacrifice: A tax effective way to save 4
Salary sacrifice: What are the benefits? 5
Salary sacrifice: Your questions answered
8
How much can I sacrifice?
How to salary sacrifice
8
12
3 Government co-contribution
14
Government co-contribution: boost your super by up to $500
13
Government co-contribution: your questions answered
14
How much can I receive
14
How to make a personal contribution
16
4 What’s best for you?
17
17
Salary sacrifice or Government co-contribution? 5 Need further help?
18
6Forms
19
VicSuper member, Karla and her partner enjoy
spending their weekend at cafes and browsing
quaint shops throughout Melbourne.
2
Introduction
Your guide to salary sacrifice and the Government co-contribution
Growing your super makes sense
Research shows that most Australians won’t have enough to meet their
retirement needs if they rely on employer superannuation guarantee (SG)
contributions alone.
Unfortunately, around 65% of retirees rely
on the Government pension as their
principal source of income^, and for a
couple on the full Age Pension, this is
only $33,716.80 per annum.
The table below shows the maximum
Age Pension amounts, depending on
your situation.
Per fortnight Per annum
For
singles
$860.20
For
$648.40
couples
$22,365.20
33,716.80 (or
$16,858.40 each)
Figures quoted are effective at 1 July 2015.
Moreover, the Age Pension is income and
assets tested, so you could receive less.
That’s why people are looking for ways to
build their super savings now. This guide will
assist you to understand how to build your
super for your future by making
contributions on an ongoing basis.
^ Derived from the ASIC MoneySmart website [https://www.
moneysmart.gov.au/superannuation-and-retirement/
income-sources-in-retirement/social-security], 17 June 2015.
Salary sacrifice
Salary sacrificing simply involves paying
some of your before tax salary into super.
It’s one of the most convenient, yet effective
ways to build your retirement savings.
Government co-contribution
The super co-contribution is a payment
made by the Government into your super
account to encourage Australians to be
better prepared for retirement. If eligible,
you could receive up to $500 directly into
your super account.
This guide answers the following questions
you may have about the Government
co-contribution:
• What’s the Government co-contribution?
• Am I eligible?
• How do I apply?
• How much can I get?
• How do I make a personal contribution?
Do you earn less than $37,000?
You can save on tax!
Under the Government’s low income
superannuation contribution (LISC)
scheme, if your adjusted taxable income
(ATI) does not exceed $37,000, you
will save on the 15% tax paid on
concessional contributions. If eligible,
you will receive a deposit in your super
account up to $500 in the following
financial year. For more information on
the LISC and what your ATI includes,
please refer to the glossary on
vicsuper.com.au
In this guide, we’ll answer the following
questions you may have about salary
sacrificing:
• What’s salary sacrifice?
• Why should I salary sacrifice?
• How do I salary sacrifice?
3
2 Salary sacrifice
Your guide to salary sacrifice and the Government co-contribution
Salary sacrifice:
A tax effective way to save
With salary sacrifice, you’re basically
putting away a portion of your
income now, so you’ll have more to
spend in your later years. It simply
involves paying some of your
before-tax salary into super.
So, before personal income tax is deducted
from your salary, your employer pays the
agreed amount straight into your super
account. This can be on a regular basis or
occasionally, depending on what suits you
best and what your employer allows.
Image to come
4
Salary sacrifice 2
Your guide to salary sacrifice and the Government co-contribution
Salary sacrifice:
What are the benefits?
Get closer to your super savings goal
Your savings will grow in a tax-effective environment, while at the same time each payment
means you are building your super and getting closer to your super savings goal.
Lower your taxable income
Your employer pays salary sacrifice contributions directly into your super before personal
income tax is deducted. This lowers your taxable income, as more of your salary is being paid
into super instead of being taxed as income.
See how John manages to boost his super and pay less tax
John earns $45,000 pa after his compulsory 9.5% superannuation guarantee contribution
is made and salary sacrifices $5,000 into his super each year.
Although John contributes $5,000 into his super, his take-home pay only reduces by
$3,200 pa. This is because he is paying income tax on $40,000 instead of $45,000.
This table shows the difference in John’s after-tax income if he salary sacrifices.
If John doesn’t
salary sacrifice
If John chooses to
salary sacrifice
$45,000
$45,000
$0
$5,000
Taxable income
$45,000
$40,000
Less net tax payable (including
Medicare levy and low income
tax offset)
($6,747)
($4,947)
After-tax income per year
$38,253
$35,053
Total income (after superannuation
guarantee contribution of 9.5%)
Salary sacrifice
This example is based on 2015/16 tax rates.
Lower tax rates on your investment returns
In super you pay a maximum of 15% tax on your investment returns, unlike other
investments where you can be taxed up to your marginal tax rate, which could be as high as
49% (including Medicare levy and Temporary Budget Repair levy).
It is important to understand that future earnings on your non-super investment will in most
cases be liable for tax at your marginal tax rate, which for many people is higher than the
concessional maximum rate of 15% on superannuation earnings.
When considered over the long term, the benefits of superannuation investments compared
to non-super investments can be even greater.
5
2 Salary sacrifice
Your guide to salary sacrifice and the Government co-contribution
Pay lower tax rates on contributions
You generally pay only 15% tax on your salary sacrifice contributions (up to your concessional cap
outlined on page 8), and withdrawals from super from age 60 are tax-free.
Please note that withdrawals from super before age 60 may be subject to tax.
Income level
Marginal tax rate
(including Medicare levy and Temporary
Budget Repair levy^)
Superannuation
contributions tax rate
$18,201 - $37,000 pa
21%
15%
$37,001 - $80,000 pa
34.5%
15%
$80,001 - $180,000 pa
39%
15%
$180,001 pa and over*
49%
15%
These rates are currently legislated for the 2015/16 financial year at the time of print.
The amount of concessional contributions, which include salary sacrifice, employer (superannuation
guarantee and additional) contributions and self-employed contributions that can be made for
2015/16 at the concessional tax rate of 15%* is limited to $30,000 pa, and $35,000 if you are age
49 and over at 30 June 2015. See page 8 for details.
*Please note that if your income exceeds $300,000 pa your contributions are generally taxed at an effective rate
of 30%.
^ Please note that the Temporary Budget Repair levy only applies to top rate.
Example
Sarah can save $100 (before-tax) per fortnight.
She currently earns $65,000 pa. What are her options?
Option 1 – Use it as take-home pay
She’ll have to pay 34.5% tax on
her $100 (that’s her marginal tax
rate including Medicare levy)
If she uses it as take-home
pay, she’ll have $65.50 in
her pocket
6
Option 2 – Put it into super
She’ll only have to pay 15%
superannuation contributions
tax on her $100
That’s a 30% difference
for every contribution
Sarah makes!
But if she salary sacrifices into
super she’ll have $85.00
in her super account
Salary sacrifice 2
Your guide to salary sacrifice and the Government co-contribution
Which after-tax position is better in the end?
Meet Simon and Holly
Who decides to
salary sacrifice?
What’s their
after-tax income?
What’s their
total after-tax
position?
Who has a better
after-tax position
in the end?
The examples in this section do not take
into account the taxes that may be
payable when you withdraw your super.
Please note that withdrawals from taxed
super funds like VicSuper are tax-free for
those age 60 and over. This may reduce
the difference shown between super and
non-super savings, or between Simon and
Holly’s total after-tax position.
7
2 Salary sacrifice
Your guide to salary sacrifice and the Government co-contribution
Salary sacrifice:
Your questions answered
What can I salary sacrifice?
How much can I sacrifice?
You may be able to salary sacrifice your
regular salary, future long service leave and
bonuses, provided your employer agrees.
Use VicSuper’s online contributions calculator
or follow these steps. If your salary range is
between $18,201 and $37,000 pa, refer to
VicSuper’s calculator on our website.
To do this you and your employer should
agree in writing on the amount to be
sacrificed before you become entitled to the
amount. See ‘How to salary sacrifice’ on
page 12-13 for further information.
For instance, if your bonus is paid in August
each year, which is only subject to the
outcome of your performance assessment,
and you would like to salary sacrifice your
bonus, you and your employer should enter
into this arrangement before your
performance assessment.
Can I choose the amount
I want to salary sacrifice?
Generally you can choose the amount you
wish to salary sacrifice into super (these
contributions will count towards your
concessional contribution cap – refer
below). This can be a specific dollar
amount or a percentage of your salary.
Some employers limit the maximum
amount you can salary sacrifice, so it’s best
to clarify with your human resources or
payroll officer.
Can I change or stop my
contributions?
VicSuper does not charge a fee to increase,
decrease or stop your salary sacrifice
contributions at any time. However, you
should confirm with your employer whether
they place any conditions on these changes.
If you wish to change or cancel your salary
sacrifice contributions, please contact your
payroll officer, who will arrange this for you.
Is salary sacrifice right for me?
Salary sacrifice works best when your
marginal income tax rate is more than 15%.
Depending on your income, you may be
better off making after-tax contributions as
you may be eligible for the Government
co-contribution scheme. Use our online
calculators or call our Member Centre on
1300 366 216 for more information.
8
1.Find the table on the following pages that relates to your salary range:
Salary range See page
Between $37,001 and $80,000 pa
9
Between $80,001 and $180,000 pa
10
Between $180,001 and $300,000 pa* 11
* Concessional contributions are generally taxed at an effective rate of 30% for people who have an income over $300,000. If this applies, do not use this table and call our Member Centre
on 1300 366 216 instead.
2.In column 1, select the amount you can
afford to reduce from your take-home
(after-tax) pay each fortnight.
3.In column 2 find out the corresponding
salary sacrifice amount. This is your
fortnightly (before-tax) salary sacrifice
amount that you will have to provide to
your payroll or human resource officer.
4. In column 3 find out the amount you would have in super after 15% tax has been applied.
5. In column 4 find out the amount that you will have salary sacrificed into your super in one year.
6. In column 5 find out how much tax you would have saved in one year. This column shows the tax you could save in one year by salary sacrificing compared to being taxed at your marginal tax rate.
Please note that the pay reduction figures
may be different if salary sacrificing causes
you to drop tax thresholds. In addition, all
the following tables do not take into account
the taxes that may be payable when you
withdraw your super.
Alternatively, use VicSuper’s
contributions calculator to
help you work out the right
arrangement for your situation.
Visit vicsuper.com.au/calculators
Cap on concessional
contributions
Under current legislation, the amount
of concessional contributions that you can
make each financial year at the concessional
tax rate of 15% (or 30% if your income
exceeds $300,000), is limited. These
contributions include salary sacrifice,
employer (superannuation guarantee and
additional) contributions and self-employed
deductible contributions.
Cap for year ended 30 June 2015
Concessional contributions of up to $30,000
pa, or $35,000 pa if you are age 49 and
over at 30 June 2015, will be taxed at the
rate of 15% or 30% if your income exceeds
$300,000.
What if I exceed my
concessional contribution cap?
You are taxed on the contributions above
this cap at your marginal tax rate plus an
interest charge. You receive a tax offset
equal to 15% of the excess for the
contributions tax already paid by the fund.
The excess contributions will be counted
towards your non-concessional contribution
cap; however will generally be reduced by
any excess you choose to release from a
super fund.
If you are issued with a tax assessment from
the Australian Tax Office (ATO), you can pay
the tax yourself or you can elect to have the
excess released from your fund. The ATO will
send your fund a ‘Release Authority’, and
your fund will generally pay the amount in
the Authority to the ATO. The ATO will then
offset the payment against the assessment.
Salary sacrifice 2
Your guide to salary sacrifice and the Government co-contribution
Is your salary between $37,001 - $80,000 pa?
Your current legislated marginal tax rate is 34.5% (including Medicare levy). Use this table to find out how much you could save in tax if you took
advantage of the low 15% concessional tax rate on super contributions by choosing to salary sacrifice. See page 8 for more information on how
to use this table.
How much can I afford my
take-home (ie after-tax) pay
to reduce each fortnight?
What's the equivalent
before-tax amount?
How much will I have in
super after the low 15%
tax rate is applied?
How much will I have
salary sacrificed into super
in one year?
How much will I have
saved in tax in one year?
$10
$15
$13
$337
$77
$20
$30
$26
$675
$155
$30
$45
$39
$1,012
$232
$40
$61
$52
$1,350
$310
$50
$76
$65
$1,687
$387
$60
$92
$78
$2,024
$464
$70
$107
$91
$2,362
$542
$80
$122
$104
$2,699
$619
$90
$137
$117
$3,037
$697
$100
$153
$130
$3,374
$774
$120
$183
$156
$4,049
$929
$140
$214
$182
$4,724
$1,084
$160
$244
$208
$5,398
$1,238
$180
$275
$234
$6,073
$1,393
$200
$305
$260
$6,748
$1,548
$250
$382
$324
$8,435
$1,935
$300
$458
$389
$10,122
$2,322
$350
$534
$454
$11,809
$2,709
$400
$611
$519
$13,496
$3,096
$450
$687
$584
$15,183
$3,483
$500
$763
$649
$16,870
$3,870
$550
$840
$714
$18,557
$4,257
$600
$916
$779
$20,244
$4,644
$650
$992
$844
$21,931
$5,031
$700
$1,069
$908
$23,618
$5,418
$750
$1,145
$973
$25,305
$5,805
The amount of concessional contributions, which include salary sacrifice, employer (superannuation guarantee and additional) contributions and
self-employed contributions that can be made for 2015/16 at the concessional tax rate of 15% is limited to $30,000 pa, or $35,000 pa if you
are age 49 and over at 30 June 2015. See page 8 for details.
9
2 Salary sacrifice
Your guide to salary sacrifice and the Government co-contribution
Is your salary between $80,001 - $180,000 pa?
Your marginal tax rate is 39% (including Medicare levy). Use this table to find out how much you could save in tax if you took advantage of the low
15% concessional tax rate on super contributions by choosing to salary sacrifice. See page 8 for more information on how to use this table.
How much can I afford my
take-home (ie after-tax) pay
to reduce each fortnight?
$10
What's the equivalent
before-tax amount?
$16
How much will I have in
super after the low 15%
tax rate is applied?
$14
How much will I have
salary sacrificed into super
in one year?
How much will I have
saved in tax in one year?
$362
$102
$20
$33
$28
$725
$205
$30
$49
$42
$1,087
$307
$40
$66
$56
$1,449
$409
$50
$82
$70
$1,811
$511
$60
$98
$84
$2,174
$614
$70
$115
$98
$2,536
$716
$80
$131
$111
$2,898
$818
$90
$148
$125
$3,261
$921
$100
$164
$139
$3,623
$1,023
$120
$197
$167
$4,348
$1,228
$140
$230
$195
$5,072
$1,432
$160
$262
$223
$5,797
$1,637
$180
$295
$251
$6,521
$1,841
$200
$328
$279
$7,246
$2,046
$250
$410
$348
$9,057
$2,557
$300
$492
$418
$10,869
$3,069
$350
$574
$488
$12,680
$3,580
$400
$656
$557
$14,492
$4,092
$450
$738
$627
$16,303
$4,603
$500
$820
$697
$18,115
$5,115
$550
$902
$766
$19,926
$5,626
$600
$984
$836
$21,738
$6,138
The amount of concessional contributions, which include salary sacrifice, employer (superannuation guarantee and additional) contributions and
self-employed contributions that can be made for 2015/16 at the concessional tax rate of 15% is limited to $30,000 pa, or $35,000 pa if you
are age 49 and over at 30 June 2015. See page 8 for details.
10
Salary sacrifice 2
Your guide to salary sacrifice and the Government co-contribution
Is your salary $180,001 - $300,000?
Your current legislated marginal tax rate is 49% (including Medicare levy and temporary Budget Repair levy). Use this table to find out how much
you could save in tax if you took advantage of the low 15% concessional tax rate on super contributions by choosing to salary sacrifice. See page
8 for more information on how to use this table.
How much can I afford my
take-home (ie after-tax) pay
to reduce each fortnight?
What's the equivalent
before-tax amount?
How much will I have in
super after the low 15%
tax rate is applied?
How much will I have
salary sacrificed into super
in one year?
How much will I have
saved in tax in one year?
$50
$98
$83
$2,167
$867
$100
$196
$167
$4,333
$1,733
$150
$294
$250
$6,500
$2,600
$200
$392
$333
$8,667
$3,467
$250
$490
$417
$10,833
$4,333
$300
$588
$500
$13,000
$5,200
The amount of concessional contributions, which include salary sacrifice, employer (superannuation guarantee and additional) contributions and
self-employed contributions that can be made for 2015/16 at the concessional tax rate of 15% is limited to $30,000 pa, or $35,000 pa if you
are age 49 and over at 30 June 2015. See page 8 for details.
Is your income $300,000 or above?
If your income exceeds $300,000 pa, concessional contributions will generally be taxed at 30%. If this applies to you, do not use this table and
call our Member Centre on 1300 366 216.
11
2 Salary sacrifice
Your guide to salary sacrifice and the Government co-contribution
How to salary sacrifice
Setting up a salary sacrifice
arrangement is easy, and this section
will guide you through the process.
To start salary sacrificing into a VicSuper
account you’ll need to be a member of
VicSuper. Call VicSuper’s Member Centre on
1300 366 216 to find out how you can join.
Please note that if you’re employed by
the Department of Education and Early
Childhood Development (DEECD) as a
school-based staff member or principal,
you’ll have to follow a different set of
instructions to start your salary sacrificing
arrangements, as outlined on the
following page.
For all other employer groups, simply follow
the steps below:
1.Check that your employer allows you to
make salary sacrifice contributions by
talking to your human resources or
payroll officer.
2.Decide how much you would like to
contribute. Use the tables on pages
9 -11 of this booklet to help.
3.You and your employer should agree on
the details below:
• the amount of salary you want to
sacrifice
• where the contribution is going to come
from ie your regular salary, bonuses,
or allowances (before you become
entitled to them)
• if your employer’s superannuation
guarantee (SG) obligations will be
calculated on your gross or salary
sacrificed salary. An SG obligation refers
to the amount of superannuation your
employer must contribute on your
behalf. Under current legislation this
amount is 9.5% of your ordinary
time earnings.
• whether your pre-salary sacrifice salary
will be used to calculate any defined
benefit fund entitlement you may have.
4.Check with your human resources or
payroll officer to find out their salary
sacrifice process. They will either ask you
to complete the Make personal and/or
salary sacrifice contributions through
your employer form (V302) attached
to the back of this guide, or their
equivalent form.
5.Give your completed form to your human
resources or payroll officer, and they’ll
initiate deductions from your pay and
automatically send your contributions
through to VicSuper. Please do not
forward the form directly to VicSuper.
Your contributions will be forwarded to
your VicSuper account and reported on your
Benefit Statement. You can also check your
contributions and progress through VicSuper
MembersOnline.
Please note that if you also make personal
(after-tax) contributions into your super
account, you may be eligible for a
Government co-contribution of up to $500.
For more information see pages 14 -18 of
this guide.
Are you a DEECD
school-based staff member
or principal?
The DEECD uses a salary packaging
administrator called SmartSalary to
administer salary sacrifice contributions for
school-based staff members and principals.
Please note that Executive officers and VPS
staff will need to follow the steps on page
11 to start salary sacrificing.
If you are employed by the DEECD as a
school-based staff member or principal,
please follow these steps:
1.Before you decide to start salary
sacrificing into super, clarify the following
details with SmartSalary:
• the amount of salary you want to sacrifice
• where the contribution is going to come from, such as your regular salary, bonuses, or allowances (before you become entitled to them)
• what fees apply.
2.Decide how much you would like to
contribute. Use the tables on pages 9-11
of this guide to help.
3.Complete the ‘SmartSalary Additional
Superannuation Application Form’
attached to the back of this guide and
send it directly to SmartSalary.
4.If you have not registered with
SmartSalary, please also complete
the ‘Salary Packaging Application Form’
attached to the back of this guide.
Your contributions will be forwarded to your
VicSuper account and reported on your
Benefit Statement. You can also check your
contributions and progress through VicSuper
MembersOnline.
SmartSalary charges a separate fee for their
service, so you should check what fee will
apply before you start.
For more information about SmartSalary,
please contact SmartSalary on 1300 550 056.
Please note that if you also make personal
(after-tax) contributions into your super
account, you may be eligible for a
Government co-contribution of up to $500.
For more information see pages 14 -18 of
this guide.
12
Salary sacrifice 2
Your guide to salary sacrifice and the Government co-contribution
Government co-contribution:
boost your super by up to $500
In addition to the many tax
incentives of investing in super, the
Government co-contribution is
another reason to kickstart your
super savings for your future.
The Government co-contribution scheme is
designed to assist and encourage Australians
to save for retirement. It involves the
Government matching $0.50 to every $1.00
of personal (after-tax) contributions made by
eligible income earners, up to a maximum
of $500 pa.
How does that work?
To receive the maximum co-contribution of $500, you have to earn less than $35,454 during
the 2015/16 financial year and make a personal contribution of $1,000.
The maximum co-contribution reduces for every dollar of income you earn over $35,454 pa,
phasing out completely if your total income is $50,454 pa.
Taking advantage of this could result in an impressive boost to your super savings, as shown
in the example below.
See how Jane manages to boost her contribution into super
Jane is age 40 and earns $39,454 pa. She also has an investment that generates
$2,000 pa. This adds up to $41,454 pa, which is her total income.
To find out how much she could contribute to maximise the super co-contribution,
Jane uses VicSuper’s contributions calculator.
She finds out that if she makes a personal (after-tax) contribution of $600 into her super,
she will be eligible to receive a super co-contribution of $300. This results in a total
contribution of $900 into Jane’s super fund.
We assume Jane has no other income or allowable deductions. You should be aware that super savings,
including personal contributions and the Government co-contribution, are generally preserved until you
meet a condition of release. To find out more please see page 18.
13
3 Government co-contribution
Your guide to salary sacrifice and the Government co-contribution
Government co-contribution:
your questions answered
Do I qualify?
What’s an eligible contribution?
To be eligible for the co-contribution in the
2015/16 financial year, you need to:
• earn less than $50,454 pa
(see below to find out how to calculate
your total income)
• earn at least 10% of your gross total
income from operating a business or
as an employee or both
• not be a temporary resident of Australia
at any time during the year (an exception
applies for New Zealand citizens)
• be less than age 71 at the end of the
financial year
• lodge an income tax return for this
financial year.
An eligible personal contribution (called
a non-concessional contribution) is an
after-tax contribution made into your
super account.
Finally, you need to make, or have made,
a personal contribution (also known as
non-concessional or after-tax contributions)
into your super fund before the end of the
financial year.
Use VicSuper’s contributions calculator to get an idea of the personal contribution you need to make to
maximise the super co-contribution.
Just visit vicsuper.com.au/calculators
Please note that the above criteria are
applicable to both employees and
self-employed people.
Alternatively, refer to the table on the
following page to find out how you can
maximise the super co-contribution.
How do I calculate my total annual
income?
When can I access my super?
Your total annual income is your total
assessable income plus all reportable fringe
benefits and reportable employer super
contributions (RESC), which refers to super
contributions made by your employer
which you are able to influence, such as
salary sacrifice.
Assessable income can include:
• salary payments (including bonuses,
annual or long service leave payments)
• any investment income you may receive
(such as rent, bank interest or share
dividends).
Your total annual income is not reduced for
deductions such as work-related deductions.
Please note that for the purpose of
determining whether your total income is
below the $50,454 co-contribution
threshold, self-employed people may
reduce their income by deductions that
result from running a business.
14
These amounts may come from savings
held in a bank account, a lump sum
received from the sale of an asset or an
inheritance, or from your salary as an
after-tax deduction.
Contributions such as superannuation
guarantee, salary sacrifice and eligible
spouse contributions do not qualify you
for the co-contribution.
How much can I receive?
Like other superannuation savings, your
personal contributions, co-contribution
amounts and salary sacrifice contributions
are generally preserved until you meet a
condition of release, such as reaching your
preservation age (see the table below) and
permanently retiring from the workforce.
This means you can’t dip into your funds
now, enabling you to continually build your
savings for your retirement.
Caps on non-concessional
contributions
In the 2015/16 financial year, you can
contribute up to $180,000 of nonconcessional contributions (which include
personal contributions) into super each
year tax-free.
If you are under age 65, you can bring
forward two years of future entitlements,
equalling a non-concessional cap of
$540,000 over three years (provided you
have not triggered the bring forward rule
in the 2013/14 financial year in which
case your cap will remain $450,000 over
the relevant three years).
Eligible spouse contributions made on
your behalf are included under this cap,
but Government co-contribution amounts
are not.
This cap applies per person across all
super funds.
Your super fund cannot accept single
contributions that exceed the cap. If you
exceed this cap and you do not elect
for the excess and the related earnings to
be refunded if the contributions are still
in a superannuation fund, then additional
tax will be applied so that the excess
contributions are taxed at the top
marginal tax rate plus Medicare levy*.
If you elect to refund the excess and the
related earnings, you will be taxed on the
earnings at your marginal rate. You will be
entitled to non-refundable tax offset
equal to 15% of the earnings.
*Note the top marginal tax rate is affected by
the temporary budget repair levy between
1 July 2014 and 30 June 2017.
Government co-contribution 3
Your guide to salary sacrifice and the Government co-contribution
What is my preservation age?
Use this table to find out how much you could receive
3. Look in the middle column to find out
1 July 1960 to 30 June 1961 56 years
Here’s how you can use the table below to
find out how to maximise the Government
co-contribution:
1. Calculate your expected total income
for the 2015/16 financial year.
1 July 1961 to 30 June 1962 57 years
2. Find the nearest amount to it in the
Date of birth
Preservation
age
Before 1 July 1960
55 years
1 July 1962 to 30 June 1963 58 years
1 July 1963 to 30 June 1964 59 years
After 30 June 1964
60 years
Conditions of release are further explained
in the VicSuper FutureSaver Product
Disclosure Statement, which can be
downloaded at vicsuper.com.au/publications.
Alternatively you can call our Member Centre
on 1300 366 216 for a copy.
How do I apply?
first column.
the personal contribution you need to
make to maximise your Government
co-contribution amount.
4. Look in the last column to find out the
estimated co-contribution amount you
could receive from the Government.
Your total annual income*
Personal contribution you
should make
Resulting Government
co-contribution
$35,454
$1,000
$500
$36,454
$933
$467
$37,454
$867
$433
$38,454
$800
$400
$39,454
$733
$367
$40,454
$667
$333
$41,454
$600
$300
$42,454
$533
$267
$43,454
$467
$233
$44,454
$400
$200
If you’re eligible, the co-contribution will be
paid directly into your super account during
the following financial year (usually in
December) and will be preserved until you
meet a condition of release.
$45,454
$333
$167
If you do not nominate a fund to receive
your co-contribution, it will generally be
deposited into the super fund account which
has received a co-contribution previously
(if applicable) or the account which has
the most personal contributions for the
financial year.
Here’s the great thing about this initiative
- you don’t need to apply for it! The ATO will
automatically match information from your
tax return with information provided by
VicSuper about contributions to your account.
$46,454
$267
$133
$47,454
$200
$100
$48,454
$133
$67
$49,454
$67
$33
$0
$0
$50,454 and over
If you would like to nominate VicSuper
FutureSaver to receive your co-contribution
amount, simply complete the ATO’s
Superannuation Fund Nomination form
which can be downloaded at
vicsuper.com.au/forms
15
3 Government co-contribution
Your guide to salary sacrifice and the Government co-contribution
How to make a personal contribution
Now that you’ve found out the
personal contribution amount you
need to make to maximise the
Government co-contribution, all you
need to do is make it!
To make a personal contribution to VicSuper,
you need to be a VicSuper member. Call
VicSuper’s Member Centre on 1300 366 216
to find out how you can join.
If you already make personal contributions
to a complying super fund, you may
have already made enough personal
contributions to qualify for the Government
co-contribution. Check with your
superannuation provider to find out.
Personal (after-tax) contributions can be
made into your VicSuper FutureSaver
account in any of the following four ways:
• BPAY®
• cheque or money order
• regular deductions from your salary
• direct debit.
BPAY
The simplest and quickest way to make a
personal contribution is through VicSuper
MembersOnline, a free and secure online
service that enables you to manage
and monitor your VicSuper account all
year round.
To make a personal contribution through
BPAY simply:
• Login to MembersOnline.
• Select ‘Build my Super’, then select
‘Add to my Super’.
• Read and follow the on screen
instructions.
• Transfer the contribution using your
financial institution’s online or telephone
banking services. You’ll need to use
the biller code and reference number
which you obtained from VicSuper
MembersOnline.
Cheque or money order
• Complete a Make a personal contribution
directly to VicSuper form (V301), which
is attached to the back of this guide.
• Post the completed form with a cheque
or money order for your contribution
amount to VicSuper, GPO Box 89
Melbourne, Vic 3001.
16
Regular deductions from
your salary
• Confirm with your human resources or
payroll officer whether you can make
personal contributions into super directly
from your salary.
• Complete a Make personal and/or salary
sacrifice contributions through your
employer form (V302), which is attached
to the back of this guide and elect to
make ‘personal contributions’. Some
employers may require you to fill out
their equivalent form.
• Give this form to your human resources
or payroll officer (not VicSuper), who
will arrange for deductions from your
pay to be fowarded to your VicSuper
Fund account. Your employer must send
deductions from your pay to VicSuper
by the 28th day of the month after the
month of deduction.
Direct debit
• Download a Personal contributions
via direct debit form (V307) from our
website at vicsuper.com.au/forms or
request a copy from our Member Centre.
• Complete the form, indicating the
monthly amount you would like VicSuper
to direct debit from your nominated
bank account.
• Post it to VicSuper, GPO Box 89
Melbourne, Vic 3001.
What’s best for you? 4
Your guide to salary sacrifice and the Government co-contribution
Salary sacrifice or Government
co-contribution?
Deciding on which strategy is right for you depends on your circumstances such as your income level. See the following example of Anthony
and Emma to understand how before-tax and after-tax contributions make an impact on their super contribution and take-home pay.
Anthony
Before-tax
($)
Emma
After-tax
($)
Before-tax
($)
After-tax
($)
Salary package
41,610
41,610
71,175
71,175
Salary
38,000
38,000
65,000
65,000
Super guarantee contributions
3,610
3,610
6,175
6,175
Salary sacrifice contributions
1,241
0
3,120
0
Taxable income
36,759
38,000
61,880
65,000
Less Income tax
3,816
4,227
12,824
13,947
0
830
0
1,997
32,943
32,943
49,056
49,056
0
415
0
0
4,123
4,313
7,901
7,246
Less After-tax contribution
Equals Take-home pay after super contribution
Government co-contribution
Total annual super contribution^
Outcome
Contribution to super
Difference in take-home pay
$190 more to
his super
$655 more to
her super
Nil
Nil
^ After deducting 15% contributions tax.
Tax is based on 2015/16 legislated rates and includes the Medicare Levy and Low Income Tax Offset.
Based on their income level, Anthony is better off making after-tax contributions. By taking
advantage of the Government co-contribution scheme, he adds $190 more to his super.
Emma on the other hand, isn’t eligible for the Government co-contribution since her income
level is over the threshold. So she makes salary sacrifice contributions (pre-tax) and adds
$655 more to her super.
In each scenario, their take-home pay remains the same regardless of the type of contribution
made. The main difference between Anthony and Emma is using the right strategy to boost
their super based on their circumstances.
To see which strategy is right for you:
Use our online calculators at
vicsuper.com.au/calculators or
Call our Member Centre on
1300 366 216.
17
5 Further information
Your guide to salary sacrifice and the Government co-contribution
Need further help?
If you have any questions about
salary sacrifice or the Government
co-contribution, please visit our
website at vicsuper.com.au or call our
Member Centre on 1300 366 216.
For more indepth and personal advice,
VicSuper also offers advice services.
Express super advice
Our express super advice service is ideal
for people who have some years until
retirement (such as those under age 50)
who are looking for concise and
straightforward advice on specific
superannuation topics over the phone.
As well as answering any questions you
may have about building your super through
salary sacrificing or personal contributions,
our qualified financial planners can also
provide personal recommendations on:
• which VicSuper investment option to
choose
• how to protect yourself with insurance
through VicSuper
• how your super is tracking for retirement
• rolling over any other super accounts to
your VicSuper account.
18
Super retirement planning advice
This service is ideally suited to people age 50
and above who would like to explore their
superannuation retirement planning through
an in-depth face-to-face appointment.
You can discuss your superannuation and
retirement goals, whether you’re on track to
achieve them and strategies that may be
suited to your circumstances.
Book an appointment
If you would like an express super advice
appointment or super retirement planning
advice appointment, please visit
vicsuper.com.au/superadvice or call our
Member Centre on 1300 366 216.
In most instances, the superannuation
advice you receive from VicSuper will be at
no additional cost. However, a fee may be
payable for certain types of advice. Where
an advice fee is applicable, the cost will not
exceed $200 (inclusive of GST).
GPO Box 89 Melbourne Vic 3001
VicSuper Member Centre 1300 366 216
vicsuper.com.au
Make a personal contribution directly to VicSuper
* Indicates that providing this information is mandatory. Not doing so may delay the processing of your request.
When completing this form, please ensure you use all capital letters eg
Important
information
Step 1:
Personal details
and check boxes with a cross eg
✗
• Please complete this form to make personal contributions (also known as non-concessional contributions) directly
to VicSuper FutureSaver.
• You can also make personal contributions via BPAY® using VicSuper MembersOnline or by contacting the VicSuper
Member Centre on 1300 366 216. You can register for VicSuper MembersOnline at vicsuper.com.au. Please note that
if you wish to make your personal contributions via BPAY you do not need to complete this form.
• If you are self-employed you may be able to claim a tax deduction for your contribution. You should use the Make
a personal deductible contribution directly to VicSuper (including self-employed contributions) form (V311) for
this purpose.
• Generally, to make a contribution, you must be under age 65, or between age 65 and 74 and gainfully employed for
at least 40 hours in a period of not more than 30 consecutive days in the financial year in which the contribution is
made. No contributions can be made if you are age 75 or over. Once you are age 75, personal contributions must be
received by VicSuper within 28 days after the end of the month in which you turn 75.
• Remember, you generally cannot access your contributions as cash until you reach your preservation age (at least age
55, depending on your date of birth) and permanently retire.
• Please be aware of the contribution caps outlined in Step 2 and ensure VicSuper has your tax file number (TFN). Without
your TFN VicSuper cannot accept personal contributions into your VicSuper Fund account. To confirm if VicSuper has your
TFN, please call the VicSuper Member Centre on 1300 366 216 or login to VicSuper MembersOnline.
Member number*
Have you recently changed
your address?
Title
X Yes X No
X Mr
X Mrs X Ms X Miss
X Other (please specify)
Surname*
Given name/s*
Residential address*
Postcode*
Postal address
(if the same as your residential
address, mark ‘AS ABOVE’)
Postcode*
Daytime phone number*
Mobile number
Date of birth*
Gender
Male
Female
Tax file number
Under the Superannuation Industry (Supervision) Act 1993, VicSuper is authorised
to collect your TFN, which will only be used for lawful purposes. These purposes
may change in the future as a result of legislative change. VicSuper may disclose
your TFN to another superannuation provider, when your benefits are being
transferred, unless you request VicSuper in writing that your TFN not be disclosed
to any other superannuation provider. It is not an offence not to quote your TFN.
V301 07/15 P1
Please turn over
Step 1: (continued)
Personal details
However giving your TFN to VicSuper will have the following advantages (which may not otherwise apply):
• VicSuper will be able to accept all types of contributions to your account/s;
• the tax on contributions to your superannuation account/s will not increase as a result of VicSuper not having your TFN;
• no additional tax than what will ordinarily apply will be withheld when you start drawing down your superannuation
benefits; and
• it will make it much easier to trace different superannuation accounts in your name so that you receive all your
superannuation benefits when you retire.
Would you like all your super in one place?
VicSuper can help! Simply tick the box below and we’ll use your TFN to search for other super accounts you have.
We’ll then let you know so you can decide if you want to roll them over to VicSuper.
I consent to VicSuper using my TFN to conduct a search for other super accounts held for me using the ATO
online facility and if any other super accounts are found for me, to contact those superannuation funds to seek
information in order to facilitate the consolidation of those accounts.
If VicSuper doesn’t have your tax file number on record, please provide it above.
Email
By providing your email address you are agreeing to receive communications from VicSuper via email, or via VicSuper
MembersOnline. You can change or further customise how you receive your communications from VicSuper at
any time by logging into VicSuper MembersOnline or calling the Member Centre on 1300 366 216. If you are not
registered for VicSuper MembersOnline we will send you a password shortly. Some correspondence cannot be sent
electronically so you may still receive some communications from VicSuper in the post.
Providing a personal email address rather than a work email address ensures we can contact you even if you change employers.
Step 2:
Complete your
contribution details
Contribution caps: There is a cap of $180,000 pa on non-concessional contributions (eg personal
contributions) that you can contribute to superannuation tax-free for the 2014/15 financial year. People under
age 65 can bring forward two years of future entitlements, equalling a non-concessional cap of $540,000
over 3 years (provided you have not triggered the bring forward rule in the 2013/14 financial year in which
case your cap will remain $450,000 over the relevant three years). If you exceed this cap and you do not elect
for the excess and the related earnings to be refunded if the contributions are still in a superannuation fund,
then additional tax will be applied so that the excess contributions are taxed at the top marginal tax rate plus
Medicare levy. If you elect to refund the excess and the related earnings, you will be taxed on the earnings at
your marginal rate. You will be entitled to non-refundable tax offset equal to 15% of the earnings. Additional
tax may apply. VicSuper cannot accept non-concessional contributions without your tax file number.
Payment type
Cash
Visit a VicSuper advice centre to obtain a Westpac deposit slip and unique reference number prior to taking your
contribution to a Westpac branch. For further information please contact our Member Centre on 1300 366 216.
Cheque or money order (payable to VicSuper)
Cheque number
Account name
$
Payment amount
Contributions will be invested according to your future contribution nominations (if applicable), or your current
investment options. Visit vicsuper.com.au for information about VicSuper’s investment options.
Step 3:
Read VicSuper’s
privacy information
V301 07/15 P2
The Privacy Act 1988 (Cwlth) extends privacy regulation to the private sector, including VicSuper. This legislation
governs the proper handling of personal information including how an organisation collects, uses, discloses and stores
personal information.
You should have received information on how VicSuper handles personal information, either in your relevant PDS or
in VicSuper’s Privacy brochure (personal information). If you have not received this information or would like another
copy sent to you, please call our Member Centre on 1300 366 216.
Step 4:
Sign this form
Please tick the appropriate box:
I declare that I am under age 65.
I am between age 65 and 74 and have been gainfully employed for at least
40 hours in a period of not more than 30 consecutive days in the financial year
in which my contribution is made.
I certify that:
• I understand that my contributions will be invested according to my future contribution nominations (if applicable),
or my current investment options.
• I have received and read VicSuper’s privacy information. See Step 3.
• I acknowledge that VicSuper may require additional proof of identity in certain circumstances under the Anti-Money
Laundering and Counter-Terrorism Financing Act 2006.
• I am aware of the contribution caps outlined in Step 2.
Signature
Step 5:
Send your form
to VicSuper
V301 07/15 P3
Date
Send your completed form, together with your cheque or money order made payable to VicSuper, to: VicSuper, GPO
Box 89 Melbourne Vic 3001
® Registered to Bpay Pty Ltd ABN 69 079 137 518
VicSuper Pty Ltd ABN 69 087 619 412 AFSL 237333 is the Trustee of VicSuper Fund ABN 85 977 964 496
V301 07/15 P4
GPO Box 89 Melbourne Vic 3001
VicSuper Member Centre 1300 366 216
vicsuper.com.au
Make personal and/or salary sacrifice contributions
through your employer
Do not send this form to VicSuper - give this form to your Payroll Officer at your workplace.
* Indicates that providing this information is mandatory. Not doing so may delay the processing of your request.
and check boxes with a cross eg
When completing this form, please ensure you use all capital letters eg
Important
information
Step 1:
Personal details
✗
• Please complete this form to start making personal or salary sacrifice contributions through your employer or change
your current level of contributions to VicSuper FutureSaver.
• If you are employed by the Department of Education and Early Childhood Development and wish to salary
sacrifice, you may need to complete a different form. Contact your Business Manager, Payroll or HR department for
more information.
• Contributions will be invested according to your future contribution nominations (if applicable), or your current
investment options. Visit vicsuper.com.au for more information about VicSuper’s investment options.
• Generally to make personal or salary sacrifice contributions through your employer you must be under age 65, or
between age 65 and 74 and gainfully employed for at least 40 hours in a period of not more than 30 consecutive
days in the financial year in which the contribution is being made. Personal or salary sacrifice contributions cannot be
made if you are age 75 or over. Once you are age 75, salary sacrifice and personal contributions must be received
by VicSuper within 28 days after the end of the month in which you turn 75.
• All contributions and earnings on these amounts made to complying superannuation funds, such as VicSuper Fund
(VicSuper FutureSaver), are preserved. This means that you generally cannot access your contributions as cash until
you reach your preservation age (at least age 55, depending on your date of birth) and permanently retire from
the workforce.
• Please be aware of the caps outlined in Steps 3 and 4 and ensure VicSuper has your tax file number (TFN).
Without your TFN VicSuper cannot accept personal contributions into your VicSuper Fund account and generally
must tax all concessional contributions (eg superannuation guarantee and salary sacrifice) at the top marginal tax
rate plus the Medicare levy.
• If you have any questions, please call our Member Centre on 1300 366 216
Have you recently changed
your address?
Title
X Yes X No
X Mr
X Mrs X Ms X Miss X Other (please specify)
Surname*
Given name/s*
Residential address*
Postcode*
Postal address
(if the same as your residential
address, mark ‘AS ABOVE’)
Postcode*
Daytime phone number*
Date of birth*
Payroll number
V302 06/15 P1
Gender
Male
Female
(employee reference number –
payslip or payroll number)
Please turn over
Step 2:
Complete your
membership details
If you are a new member and have not yet received your membership details, leave this step blank or if you are
unsure of your membership details, please call our Member Centre on 1300 366 216.
I wish to make salary sacrifice or personal contributions into the following account:
Member number
Step 3:
Commence or change salary
sacrifice contributions
(if applicable)
Contribution caps: The concessional contributions cap for the 2015/16 financial year is $30,000 pa,
or $35,000 pa if you are age 49 and over at 30 June 2015. This is the annual cap per person across all
superannuation funds. Concessional contributions are taxed at a rate of 15%; however if your annual
income exceeds $300,000, generally your concessional contributions are taxed at an effective rate of 30%.
If you exceed the cap, you are taxed on any excess at your marginal tax rate plus an interest charge. You
receive a tax offset equal to 15% of the excess for the contributions tax already paid by the fund. The
excess contributions will be counted toward your non-concessional contribution cap to the extent you
don’t elect your fund to refund the excess concessional contributions.
• Complete this section to start making or change your current level of salary sacrifice contributions.
• Salary sacrifice contributions can include regular salary, bonuses and allowances.
• Salary sacrifice arrangements can only be made if your employer agrees in writing before you become entitled to
the amount you intend to contribute.
• Your employer will deduct these contributions from your pay before tax is deducted.
Please tick the appropriate box.
Commence salary sacrifice contributions. Specify amount to be deducted each pay period:
$
.
or
% of salary (before tax)
Change salary sacrifice contributions. Specify new amount to be deducted each pay period:
$
Step 4:
Commence or change
personal contributions
(if applicable)
.
or
% of salary (before tax)
Contribution caps: There is a cap of $180,000 pa on non-concessional contributions (eg personal
contributions) that you can contribute to superannuation tax-free for the 2015/16 financial year. People
under age 65 can bring forward two years of future entitlements, equalling a non concessional cap of
$540,000 over 3 years (provided you have not triggered the bring forward rule in the 2013/14 financial
year in which case your cap will remain $450,000 over the relevant three years). If you exceed this cap
and you do not elect for the excess and the related earning to be refunded if the contributions are still in
a superannuation fund, then additional tax will be applied so that the excess contributions are taxed at
the top marginal tax rate plus Medicare levy. If you elect to refund the excess and the related earnings, you
will be taxed on the earnings at your marginal rate. You will be entitled to non-refundable tax offset equal
to 15% of the earnings. Addtional tax may apply. VicSuper cannot accept non-concessional contributions
without your tax file number.
• Complete this section to start making or change your current level of personal contributions.
• Personal contributions are contributions for which no tax deduction can be claimed.
• Your employer will deduct these contributions from your pay after tax is deducted.
Please tick the appropriate box.
Commence personal contributions. Specify amount to be deducted each pay period:
$
.
or
% of salary (after tax)
Change personal contributions. Specify new amount to be deducted each pay period:
$
Step 5:
Read VicSuper’s
privacy information
V302 06/15 P2
.
or
% of salary (after tax)
The Privacy Act 1988 (Cwlth) extends privacy regulation to the private sector, including VicSuper. This legislation
governs the proper handling of personal information including how an organisation collects, uses, discloses and
stores personal information.
You should have received information on how VicSuper handles personal information, in your VicSuper PDS or in
VicSuper’s Privacy brochure (personal information). If you have not received this information or would like another
copy sent to you, please call our Member Centre on 1300 366 216.
Step 6:
Sign this form
•
•
•
•
•
I authorise the deduction of the amount shown in Step 3 and/or 4 from my pay on a regular basis.
I authorise my employer to forward my contributions to VicSuper.
I have received and read VicSuper’s privacy information. See Step 5.
I understand that this request remains in force until I advise my payroll officer in writing of any change.
I understand that my contributions will be invested according to my future contribution nominations (if applicable),
or my current investment options.
• I also understand that this request will take effect from the next pay day as determined by my payroll officer.
• I am aware of the caps mentioned in Steps 3 and 4.
Signature*
Date*
Step 7:
Give this form to your
payroll officer
Do not send this form to VicSuper. Give it to your payroll officer, who will arrange for deductions from your pay to
be deposited in to your VicSuper Fund account. Your employer will keep the completed form.
Step 8:
Employer use only
If you are deducting contributions from an employee’s salary or wages after tax, these must be sent to VicSuper by the
28th day of the month after the month of deduction.
Date received
Effective pay date
Signature
(Pay date from which change is to take place)
Date
Name
Employer
Do not send this form to VicSuper – your employer will keep the completed form.
VicSuper Pty Ltd ABN 69 087 619 412 AFSL 237333 is the Trustee of VicSuper Fund ABN 85 977 964 496
V302 06/15 P3
V302 06/15 P4
Additional Superannuation Form - Commercial Super Fund
Mail To:
Smartsalary Pty Ltd
Applications
GPO Box 4244
Sydney NSW 2001
Fax:
1300 708 144
NOTE: You can type directly into this form, print the form, sign it and then send the signed form to Smartsalary. This form cannot be processed
without a signed declaration.
Log in to your online Smartsalary account at
www.Smartsalary.com.au to find your account number. If
you are submitting with an application, leave this field blank.
Smartsalary Account Number
Section A - Your Personal Details
Employer
Given Name(s)
Surname
Contact Number
Payroll Number
Tax File Number*
I am new to Smartsalary and want to package my super -> Complete and submit this form as well as the Salary Packaging
Application form.
I have packaged with Smartsalary before and now want to package my super -> Complete and submit this form only.
I am already packaging my super with Smartsalary and want to make a change -> Complete the fields that have changed
on this form.
Section B - Superannuation Provider Details
Superannuation Provider Name
Superannuation ABN*
Superannuation USI*
Superannuation Address
Section C - Making Payments For You
Select a payment frequency:
Every pay period
Member Number (Product ID)
Once-off
Amount
$
Section D - Employee Declaration
I hereby declare that:
* The information provided is true and correct to my knowledge;
* I have read and understand the description for the item I am electing to package available on the Smartsalary website;
* I have read and accept the Smartsalary Terms & Conditions available on the Smartsalary website; and
* I authorise Smartsalary to alter my deductions in accordance with the requirements of my salary package.
Signature:
Date
IMPORTANT: This section must be signed otherwise your claim will not be processed.
Print Form
* Fields made mandatory by the 2014 ATO SuperStream regulation. For more information, please visit www.ato.gov.au/superstream.
Version Date: 03-Aug-2015
Page 1 of 1
Smartsalary Pty Ltd ACN 096 796 100
GPO Box 4244, Sydney NSW 2001
Tel: 1300 202 987 Fax: 1300 708 144
Email: [email protected]
Salary Packaging Agreement & Application Form
Mail To:
SmartSalary Pty Ltd
DET Applications
GPO Box 4244
Sydney NSW 2001
Fax:
1300 708 144
NOTE: This form contains form fields - you can type directly into the form, print the form, sign it and then send signed form to SmartSalary for
processing. Applications cannot be processed without a signed declaration from the employee. Please remember to sign the form before sending it
to SmartSalary.
Section A - Your Personal Details
IMPORTANT: You must complete all fields in this section. Your form will not be processed if this section is not 100% complete.
Employer
VIC Department of Education and Early Childhood Development
Employee Number
Title
D.O.B (dd-mm-yyyy)
Surname
Gender
Given Name(s)
Gross Annual Salary
Phone (BH)
Phone (AH)
Male
Female
Mobile
Email
Email address: SmartSalary recommends that you provide an email address. You will not be able to login in to your online account
if you do not provide one. All email address will be kept confidential.
Residential Address
Street Address
Suburb
State
Postcode
State
Postcode
Postal Address (if different to residential address above)
Street Address
Suburb
Section B - Your Personal Banking Details
IMPORTANT: You must provide your personal bank account details if you wish to package any items other than superannuation.
These details are required so we can make pre-tax payments to you.
Bank Name
Name of Account Holder
BSB
Account Number
Section C - Required Documentation
Please attach the following documentation to this form when submitting to Smartsalary:
A copy of your payslip
Version Date: 08-Apr-2015
Page 1 of 2
SmartSalary Pty Ltd ACN 096 796 100
GPO Box 4244, Sydney NSW 2001
Tel: 1300 4 SMART (1300 476 278)
Fax: 1300 708 144 Email: [email protected]
Salary Packaging Agreement & Application Form
Mail To:
SmartSalary Pty Ltd
DET Applications
GPO Box 4244
Sydney NSW 2001
Fax:
1300 708 144
Section D - Employee Declaration
I hereby declare that:
* The information provided is true and correct to my knowledge;
* I have read and understand the Salary Packaging Guide available on the Smartsalary website;
* I have read and undertand information on the Smartsalary website for the items I have elected to salary package;
* I have read and accept the Smartsalary Terms & Conditions available on the Smartsalary website;
* I authorise Smartsalary to alter my deductions in accordance to the requirements of my salary package; and,
* I acknowledge that payments or reimbursements can only occur after sufficient salary sacrifice has occurred for that benefit item.
I acknowledge that:
* Smartgroup receives commissions, rebates and other benefits from third parties who provide goods and services to you as part of your salary package; and,
* As a result of Smartgroup receiving these benefits, you should not expect that any advice or recommendations given by Smartgroup will be disinterested,
nor will Smartgroup disclose any conflicts of interest to you.
Privacy Disclosure Statement and Consent
Smartsalary Pty Limited (‘we’, ‘us’, ‘our’) is collecting personal information about you.
* The information you provide will be held by us.
* We may use any personal information you provide to arrange or provide our services.
* We may exchange the information with the following types of entities, some of which may be located overseas.
* Persons who provide finance or other products to you, or to whom an application has been made for those products.
* Financial consultants, accountants, lawyers and advisers
* Any industry body, tribunal, court or otherwise in connection with any complaint regarding our services
* Any person where we are required by law to do so
* Any of our associates, related entities or contractors
* Your referees, such as your employer, to verify information you have provided
* Any person considering acquiring an interest in our business or assets
* You may gain access to the personal information that we hold about you by contacting us. A copy of our privacy policy can be obtained at
www.smartsalary.com.au/privacy.aspx, or contact us by email at [email protected], or by phone on 1300 476 278. Our privacy policy contains
information about how you may access or seek correction of the information we hold about you, how we manage that information and our complaints
process.
* We may collect sensitive information about you including details relating to trade union membership or medical information you provide to us;
* We may disclose personal information about you to an organisation providing verification of your identity, including on-line verification of your identity.
If you do not provide the information we may be unable to assist in providing salary packaging arrangements or providing other services.
You agree that we may collect use and disclose your information as specified above.
Signature:
Date
IMPORTANT: This section must be signed otherwise your claim will not be processed.
Print Form
Version Date: 08-Apr-2015
Page 2 of 2
SmartSalary Pty Ltd ACN 096 796 100
GPO Box 4244, Sydney NSW 2001
Tel: 1300 4 SMART (1300 476 278)
Fax: 1300 708 144 Email: [email protected]
The information contained in this Your guide to salary sacrifice and the Government co-contribution guide is given in good faith and has been derived from sources believed
to be reliable and accurate. No warranty as to the accuracy or completeness of this information is given and no responsibility is accepted by VicSuper Pty Ltd or its employees
for any loss or damage arising from reliance on the information provided. This publication does not take into account your financial situation, objectives or needs. VicSuper
recommends you seek professional advice for your own circumstances. You can contact VicSuper to make an appointment to see one of our VicSuper representatives.
VicSuper Pty Ltd ABN 69 087 619 412 (‘VicSuper’) is the Trustee of VicSuper Fund ABN 85 977 964 496. The Trustee holds an Australian Financial Services Licence
(AFSL 237333) under the Corporations Act 2001 (Cwlth) and a RSE Licence under the Superannuation Industry (Supervision) Act 1993 (Cwlth). Under its AFSL, VicSuper is
licensed to deal in, and provide financial product advice on superannuation products. At present, VicSuper representatives are limited to providing financial product advice on VicSuper
products; ESSSuper - Revised, New, SERB and Transport Schemes; providing advice on whether a member should consolidate or roll over their superannuation holdings (excluding
personal advice on self-managed superannuation funds) into VicSuper; and general superannuation matters. The members in this publication have provided their consent.
© 2015 VicSuper Pty Ltd. All rights reserved. No part of this communication, covered by copyright, may be reproduced or copied in any form or by any means without the
written permission of VicSuper Pty Ltd.
® Registered to BPAY Pty Ltd. ABN 69 079 137 518.
Call our Member Centre
1300 366 216 and speak to a VicSuper superannuation consultant
Advice centres
Bendigo | Blackburn | Geelong | Melbourne CBD | Traralgon
Monday to Friday
8.30am to 5pm
To make an appointment to see a VicSuper financial planner
call 1300 366 216
Send us a fax
03 9667 9610
Write to us
VicSuper
GPO Box 89
Melbourne VIC 3001
Browse our website
vicsuper.com.au
Manage your account online
Simply visit our website and select
VicSuper MembersOnline
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