Detailed Outline
Superannuation Guarantee legislation requires quarterly employer contributions of at least 9% of ordinary time earnings, up to the maximum contribution base. The Australian Taxation Office has advised the maximum contribution base will be adjusted to $32,180 per quarter ($128,720 per annum) from 1 July 2004.
As a result, from 1 July 2004, the following calculations apply to determine notional salary for a SES remuneration package. (Note: these calculations are for notional salary purposes only and are used for cashing out and paying out SES entitlements or when non-SES act in SES positions).
- If the Total Remuneration Package (TRP) is greater than $140,304.80 p.a. then the notional salary is the TRP less $11,584.80
For example, if an SES officer is on a TRP of $200,000.00 then the notional salary for that package is $200,000 - $11,584.80 = $188,415.20
- If the TRP is less than or equal to $140,304.80 p.a. then the notional salary is the TRP divided by 1.09
For example, if an SES officer is on a TRP of $125,000.00 then the notional salary for that package is $125,000.00 / 1.09 = $114,678.89
C. Gellatly
Director General
Superseded by C2005-27
Overview
Compliance
- Not Mandatory
AR Details
- Date Issued
- Jun 13, 2014
- Review Date
- Jun 13, 2024
- Replaces
-
- Replaced By
-
Contacts
- Contact
- Contact us
- Phone
- 02 9228 5555
- Publishing Entity
- Department of Premier and Cabinet
- Issuing Entity
- Department of Premier and Cabinet