Human Resources Unit
The University offers staff members the opportunity to salary sacrifice superannuation contributions into some superannuation funds. Salary sacrifice is also referred to as pre tax or before tax contributions.
Salary sacrifice contributions can only be made prospectively, ie. in respect of earnings for work not yet undertaken, and will only be effective once the form is received and accepted by Payroll.
Personal superannuation contributions are currently exempt from fringe benefits tax however they will be included in the Reportable Employer Superannuation Contributions (RESC) figure reported on the Annual Payment Summary.
Salary sacrifice contributions also count towards your Concession Contribution Cap limit, which also includes employer contributions paid on your behalf. These contributions receive concessional tax treatment when received by the fund. Contributions in excess of this limit will incur additional tax. For information regarding your Concessional Contribution Cap including your current position and if you are likely to exceed the limit, please contact UniSuper, as the University cannot monitor this or provide this information.
The following packages are to be read in conjunction with the Salary Sacrifice Guidelines and Conditions.
Commencement of Salary Sacrifice Arrangements
Employees can make salary sacrifice arrangements as follows:
UniSuper Defined Benefit Division and UniSuper Accumulation 2
Division
Members of either the UniSuper Defined Benefit Division or the UniSuper
Accumulation 2 Division can nominate to elect to salary sacrifice their
standard member contribution.
Please note that to offset the15% contributions tax applicable to
salary sacrifice contributions, the standard member contribution will be
increased.
UniSuper Voluntary Contributions
Members of UniSuper can elect to salary sacrifice voluntary fortnightly
contributions into their superannuation. Voluntary contributions will be
allocated to the member’s accumulation benefits.
Super SA Pension and Lump Sum Schemes
The Pension and Lump Sum schemes will not accept salary sacrifice
contributions. However, members may salary sacrifice voluntary
contributions into Super SA’s Triple S Scheme.
Private superannuation funds
Staff may make voluntary contributions from their pre tax salary into a
private/retail/self managed superannuation fund, e.g. AMP, CML, MLC, AXA
etc. However certain criteria will need to be met before the University
accepts a request to salary sacrifice superannuation contributions.
To commence any of the above salary sacrifice arrangements, the employee will need complete and return a valid HRIS046 Salary Sacrifice Commencement form.
Salary Sacrifice Superannuation Amendments
Staff may vary their arrangements regarding their salary sacrifice
contributions at any time by completing and returning a valid
HRIS050 Salary
Sacrifice Amendment form.
One-Off Payments
Staff may salary sacrifice one-off payments into a nominated
superannuation fund. However, certain criteria will need to be met
before the University accepts a request to salary sacrifice
superannuation contributions.
A valid HRIS052 Salary Sacrifice One Off Payment will need to be completed and the staff member must email their intention to salary sacrifice specific future one-off payments they may receive to superannuation@unisa.edu.au.
Salary Sacrifice for Casual Earnings
Staff may elect to make salary sacrifice contributions from their casual
earnings will need to complete and return a valid
HRIS046c Salary Sacrifice
Agreement (Casual Employees) form. This election will remain valid
only for the current calendar year, and contributions can only be made
to UniSuper.
An agreement will need to be completed in respect of casual earnings even if an employee already has an agreement in place to make salary sacrifice contribution from other earnings related to contract/continuing employment.
You will require Adobe Acrobat Reader to open these forms. You can download this application here.
