Super surcharge – information for individuals
Two types of super surcharge may apply to people on higher incomes:
- super contributions surcharge – a tax on certain contributions made to a super fund (usually employer and personal deductible contributions)
- termination payments surcharge – a tax on certain components of an employment termination payment taken in cash.
The super surcharge was abolished in the 2005–06 Federal Budget. It does not apply to any super contributions made, or termination payments received, on or after 1 July 2005.
Any super surcharge obligations you have will only be for:
- super contributions made between 20 August 1996 and 30 June 2005
- termination payments you received between 20 August 1996 and 30 June 2005.
Although super surcharge is abolished, any current and future liabilities remain payable. We may still issue original or amended surcharge assessments for the financial years 1997–2005.