Question 1

What is the difference between Salary Sacrifice and Personal Contributions?

Accepted Answer

Salary Sacrifice contributions (a type of concessional contribution) are made from your pre-tax income, which can reduce your taxable income. These are taxed at 15% inside your super fund. Personal (or non-concessional) contributions are made from your after-tax income and are not taxed again inside the fund. Both have annual caps.

Question 2

What are concessional and non-concessional contributions?

Accepted Answer

Concessional contributions are pre-tax amounts, including your employer's compulsory Superannuation Guarantee (SG) and any salary sacrifice you make. They are taxed at 15% upon entering the super fund, which is often lower than your marginal tax rate. Non-concessional contributions are made with money you've already paid tax on, so they aren't taxed again when they enter your super fund.

Question 3

What is a realistic investment return for a superannuation fund in Australia?

Accepted Answer

This depends entirely on your chosen investment option within your super fund. A 'Balanced' option might average 5-7% per year over the long term, while a 'High Growth' option might aim for 7-9% or more, but with higher risk. It's wise to use a conservative estimate in any superannuation calculator.

Question 4

How does this super calculator account for tax?

Accepted Answer

Our calculator applies a 15% contributions tax to all concessional contributions (your employer's SG payments and any salary sacrifice amounts). The tool also calculates and displays the income tax savings you get from making pre-tax salary sacrifice contributions, giving a complete picture of how super in Australia works for you.

Question 5

When can I access my superannuation? (Superannuation Withdrawal)

Accepted Answer

You can generally access your superannuation fund when you reach your 'preservation age' and retire. Your preservation age is between 55 and 60, depending on when you were born. There are very limited circumstances where you can access your super early, such as severe financial hardship or specific medical conditions.

Question 6

What is the Superannuation Guarantee (SG) rate?

Accepted Answer

The Superannuation Guarantee is the compulsory contribution your employer must make into your super fund. For the 2025-26 financial year, the rate is 12% of your ordinary time earnings.

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