Contributions Calculator

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Produced by Spark Green

If you did nothing

This lump sum amount is an estimate of your account balance with Media Super when you reach age 65 if you added nothing extra to your super and rely only on SG contributions. The per annum amount is an estimate of what you may receive annually if you took the lump sum payment as an income stream. If you haven't entered your current super balance at step 1, your result may not accurately reflect your current situation.

Adding extra

This lump sum amount is an estimate of your account balance with Media Super when you reach age 65 if you added extra to your super. The per annum amount is an estimate of what you may receive annually if you took the lump sum payment as an income stream. If you haven’t entered your current super balance at step 1, your result may not accurately reflect your current situation.

Assumptions

The values produced by this calculator are in current day dollars and we assume that:

For the lump sum amount:

Period

SG contribution rate

01/07/15 to 30/06/21

9.5%

01/07/21 to 30/06/22

10.0%

01/07/22 to 30/06/23

10.5%

01/07/23 to 30/06/24

11.0%

01/07/24 to 30/06/25

11.5%

01/07/25 onwards

12.0%

Low income earners eligible for the Low Income Super Tax Offset (LISTO) will have the LISTO rebate of $500 included as part of the lump sum calculation.

In addition, you will not exceed the following contribution caps:

Note: If you are contributing to other funds in addition to Media Super, the contribution caps apply to all contributions made by you, or on your behalf, in the financial year to all of your super funds.

For the annual income stream amount:

For the Salary Sacrifice portion:

The salary sacrifice portion of the calculator does not differentiate between assessable income, reportable fringe benefits and reportable superannuation contributions. You should consider obtaining advice from an Australian Financial Services licensee to understand the full effect of salary sacrificing in regard to your personal situation.

For the Government Co-contribution portion:

We assume that to be eligible for a Government co-contribution you satisfy all of the following criteria:

Disclaimer

This calculator is intended to provide illustrative examples based on stated assumptions and your inputs. These calculations are meant as estimates only and while based on information from sources believed to be reliable and accurate, are not intended to be used as a substitute for professional financial advice. The calculator is not intended to be relied on for the purposes of making a decision in relation to a financial product, including a decision in relation to a particular product, fund, or strategy. Please note this calculator rounds down to the nearest $1000.

Members should consider obtaining financial advice from a Financial Planner before making any financial decision. Actual outcomes will depend on a range of factors outside the control of Media Super. The Media Super Board of Trustees, Media Super Limited and its employees expressly disclaims all liability and responsibility to any person who relies, or partially relies, upon anything done or omitted to be done by this service.

1. For the purposes of the 10% test, your total income is not reduced by your allowable deductions for carrying on a business.

2. Your earnings are the sum of your assessable income, your reportable fringe benefits and your reportable employer SG contributions for the income year, minus any allowable deductions for carrying on a business.