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 $33,720 per quarter ($134,880 per annum) from 1 July 2005.
As a result, from 1 July 2005, 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).
For example, if an SES officer is on a TRP of $200,000.00 then the notional salary for that package is $200,000 - $12,139.20 = $187,860.80
For example, if an SES officer is on a TRP of $130,000.00 then the notional salary for that package is $130,000.00 / 1.09 = $119,266.06
C Gellatly Director-General
superseded by C2006-22