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  • Surchargeable contributions

    Surchargeable contributions are contributions that have a surcharge applied to them if your adjusted taxable income is above the lower income amount for the relevant financial year.

    If you're a member of an accumulation fund, surchargeable contributions include:

    • contributions made by your employer for your benefit (including additional contributions being paid because of a salary sacrifice arrangement)
    • personal contributions for which you claimed a tax deduction
    • the post- 20 August 1996 portion of an employer eligible termination payment rolled over on or after 1 July 1997
    • any amount allocated to your account on or after 1 July 1997 that was reported by your fund as an allocated surplus amount.

    If you're a member of a defined benefit fund, your surchargeable contributions are determined by your fund's actuary. They calculate the value of the benefits and expenses relating to your membership for a financial year.

    Personal contributions, for which no income tax deductions are claimed, are not surchargeable contributions. These are also referred to as undeducted contributions.

      Last modified: 30 Aug 2017QC 18956