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  • Super contributions surcharge

    Adjusted taxable income

    The surcharge rate varied and was calculated using a person’s adjusted taxable income (ATI). Before 1 July 2003, the maximum surcharge rate was 15%. From 1 July 2003, the maximum surcharge rate was reduced then phased out. The maximum surcharge rate was:

    • 14.5% in 2003–04
    • 12.5% in 2004–05
    • 0% in 2005–06 and beyond.

    No surcharge is payable in respect of super contributions or termination payments made on or after 1 July 2005.

    For information on the super contributions surcharge, see:

    Table 36: For the 2003–04 to 2005–06 financial years

    Income year

    Lower income amount

    Higher income amount

    A (as per formula)

    Indexation factor

    2005–06

    See Note 1

    See Note 1

    See Note 1

    See Note 1

    2004–05

    $99,710

    $121,075

    1709.20000

    1.053

    2003–04

    $94,691

    $114,981

    1399.31034

    1.046

    Note 1: No surcharge is payable for super contributions or termination payments made on or after 1 July 2005.

    Table 37: For financial years before 1 July 2003

    Income year

    Lower limit

    Upper limit

    Divisor

    Indexation factor

    2002–03

    $90,527

    $109,924

    $1,295

    1.062

    2001–02

    $85,242

    $103,507

    $1,219

    1.046

    2000–01

    $81,493

    $98,955

    $1,165

    1.042

    1999–2000

    $78,208

    $94,966

    $1,118

    1.031

    1998–99

    $75,856

    $92,111

    $1,084

    1.036

    1997–98

    $73,220

    $88,910

    $1,046

    1.046

    1996–97

    $70,000

    $85,000

    $1,000

    –

    For information on the termination payments surcharge, see Superannuation surcharge – information for individuals (NAT 15263).

    10-year Treasury bond rate

    The 10-year Treasury bond rate is used by unfunded defined benefits providers to calculate and debit interest to their members' surcharge debt accounts where applicable. It is also used by us, where applicable, to calculate and debit interest to the surcharge debt accounts of members of constitutionally protected funds.

    Table 38: 10-year Treasury bond rate

    As at

    10-year Treasury bond rate

    30 June 2022

    3.66%

    30 June 2021

    1.49%

    30 June 2020

    0.87%

    30 June 2019

    1.32%

    30 June 2018

    2.63%

    30 June 2017

    2.60%

    30 June 2016

    1.98%

    30 June 2015

    3.01%

    30 June 2014

    3.54%

    30 June 2013

    3.76%

    30 June 2012

    3.04%

    30 June 2011

    5.21%

    30 June 2010

    5.10%

    30 June 2009

    5.52%

    30 June 2008

    6.45%

    30 June 2007

    6.26%

    30 June 2006

    5.79%

    30 June 2005

    5.11%

    30 June 2004

    5.87%

    30 June 2003

    5.01%

    30 June 2002

    5.99%

    30 June 2001

    6.04%

    30 June 2000

    6.16%

    30 June 1999

    6.27%

     

    30 June 1998

    5.58%

    30 June 1997

    7.05%

    Source: Reserve Bank of Australia, Interest Rates, Capital market yields – Government bonds daily

    The rate is determined as follows:

    • if any Treasury bonds with a 10-year term are issued on 30 June, the rate is the annual yield on those bonds
    • if no Treasury bonds with a 10-year term are issued on 30 June, the rate is the annual yield as published for that day on the Reserve Bank of Australia website as Treasury bonds – Yields – 10-year term.
    Last modified: 05 Apr 2023QC 18123