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Question

What is contributions tax?

Answer

Mandatory (SG) and Optional (salary sacrifice) Employer Contributions to First State Super are generally subject to 15% contributions tax. Employment termination payments and any untaxed amount of a superannuation benefit rolled over into First State Super may also attract the contributions tax. Effective 1 July 2007 there are limits on roll over of employment termination payments to First State Super. A higher rate of contributions tax applies to any part of an untaxed super roll over above $1.205 million (indexed).

Any contribution tax applicable is applied on receipt of the contribution by First State Super.

* For further information see Making contributions.

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