• 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.

      Last modified: 30 Aug 2017QC 18957