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Salary Packaging Procedure
Section 14. Case Examples
Examples of packaging UniSuper contribution
Note: In the following examples the amount for pre tax UniSuper contributions is at the rate of 8.25% of gross pre-packaging salary to allow for 15% Contributions Tax.
| EXAMPLE 1 |
| HEW level 6 - Step 5 (all figures expressed in per annum amounts) |
| Before Packaging |
After Packaging |
| Gross salary |
$55,162 |
Gross salary* |
$50,521 |
| Income Tax (includes Medicare levy) |
($11,976) |
Income Tax (includes Medicare levy) |
($10,514) |
| UniSuper 7% |
($3,861) |
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|
| Net take home salary |
$39,325 |
Net take home salary |
$40,007 |
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Increase in net salary |
$682 |
*Calculated by deducting the following from the pre-package salary:
- UniSuper 8.25% ($4,551)
- Admin fee ($90)
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| EXAMPLE 2 |
- Senior Lecturer
- Senior Research Fellow Level C - Step 2
|
| Before Packaging |
After Packaging |
| Gross salary |
$93,247 |
Gross salary* |
$85,451 |
| Income Tax (includes Medicare levy) |
($25,798) |
Income Tax (includes Medicare levy) |
($22,562) |
| UniSuper 7% |
($6,527) |
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|
| Net take home salary |
$60,922 |
Net take home salary |
$62,889 |
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Increase in net salary |
$1,967 |
*Calculated by deducting the following from the pre-package salary:
- UniSuper 8.25% ($7,693)
- Admin fee ($103)
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In the following examples the amount for pre UniSuper contributions is at the rate of 8.25% of gross pre-packaging salary to allow for 15% Contributions Tax.
2. All additional contributions are subject to 15% Contribution Tax.
| EXAMPLE 3 |
| Assistant Lecturer Level A Step 1 academic earns $64,427 and wishes to package pre-tax UniSuper member contributions. |
| Before Packaging |
After Packaging |
| Gross salary |
$64,427 |
Gross salary* |
$59,009 |
| Income Tax (includes Medicare levy) |
($14,895) |
Income Tax (includes Medicare levy) |
($13,188) |
| UniSuper Investment Choice Plan/Defined Benefit Plan |
($4,510) |
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|
| Net take home salary |
$45,022 |
Net take home salary |
$45,821 |
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Increase in take home salary |
$799 |
*Calculated by deducting the following from the pre-package salary:
- UniSuper Accumulation Super (2)/Defined Benefit Division ($5,315)
- Admin fee ($103)
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| EXAMPLE 4 |
HEW level 4 Step 1 staff member earns $46,793 and wishes to package the following:
- UniSuper Accumulation Super (2)/Defined Benefit Division member contributions
- Additional contributions to Accumulation component of $1500
- Car parking permit fees at Caulfield campus (2007 red permit, $480 incl. GST, no GST payable when salary packaging)
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| Before Packaging |
After Packaging |
| Gross salary |
$46,793 |
Gross salary* |
$40,894 |
| Income Tax (includes Medicare levy) |
($9,340) |
Income Tax (includes Medicare levy) |
($7,482) |
| UniSuper Investment Choice Plan/Defined Benefit Plan |
($3,276) |
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| Award Plus Plan |
($1,275) |
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| Parking (GST payable) |
($480) |
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| Net take home salary |
$32,422 |
Net take home salary |
$33,412 |
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Increase in take home salary |
$990 |
*Calculated by deducting the following from the pre-package salary:
- UniSuper Accumulation Super (2)/Defined Benefit Division ($3,860)
- Additional contribution ($1,500)
- Parking (No GST) ($436)
- Admin fee ($103)
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