• Calculating surcharge

The surcharge may need to be paid if a member's adjusted taxable income exceeds a certain amount. Generally, a member's adjusted taxable income is the total of their:

• taxable income
• reportable fringe benefits amounts (for the 1999–2000 and later financial years)
• surchargeable contributions.

We get a member's taxable income, reportable fringe benefit amounts and deductible personal contribution details from their tax return. We get our information about surchargeable contributions from the Superannuation member contributions statement.

When we have this information, and a member's adjusted taxable income is higher than the lower income amount for the relevant year, we calculate the surcharge to apply to their surchargeable contributions.

Table 1: Lower and higher income amount

Income year

Lower income amount

Higher income amount

Divisor
(used in formula)

2005–06 onward

Surcharge abolished

Surcharge abolished

N/A

2004–05

\$99,710

\$121,075

1,709.20000

2003–04

\$94,691

\$114,981

1,399.31034

2002–03

\$90,527

\$109,924

1,295

2001–02

\$85,242

\$103,507

1,219

2000–01

\$81,493

\$98,955

1,165

1999–2000

\$78,208

\$94,966

1,118

1998–99

\$75,856

\$92,111

1,084

1997–98

\$73,220

\$88,910

1,046

1996–97

\$70,000

\$85,000

1,000

The adjusted taxable income is compared to the lower and higher income amounts to determine the rate of surcharge that applies to a member's surchargeable contributions. The number in the Divisor column is used in the calculation.

If a member's adjusted taxable income is equal to or below the lower income amount for the financial year, they don't pay a surcharge.