1. What is Salary Including Super?

The Salary Including Super calculation determines total compensation by adding the base salary to the superannuation contribution. Superannuation (or "super") is a retirement savings scheme in Australia where employers contribute a percentage of an employee's earnings.

2. How Does the Calculator Work?

The calculator uses the following equation:

Where:

• \( Salary \) — Base annual salary in Australian dollars
• \( Super\ Rate \) — Superannuation contribution rate as a decimal (e.g., 0.105 for 10.5%)

Explanation: The equation calculates the total employment cost by adding the mandatory super contribution to the base salary.

3. Importance of Super Calculation

Details: Understanding total compensation including super is crucial for both employers budgeting labor costs and employees evaluating job offers or planning finances.

4. Using the Calculator

Tips: Enter salary in AUD/year and super rate as a decimal (e.g., 0.105 for 10.5%). Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the current super guarantee rate in Australia?
A: As of 2023, the super guarantee rate is 11% (0.11 in decimal), scheduled to increase to 12% by 2025.

Q2: Is super calculated on gross or net salary?
A: Super is calculated on ordinary time earnings (OTE), which is generally the gross salary before tax.

Q3: Are there caps on super contributions?
A: Yes, there are concessional (before-tax) and non-concessional (after-tax) contribution caps each financial year.

Q4: Can the super rate be higher than the minimum?
A: Yes, employers can choose to pay more than the minimum super guarantee rate.

Q5: Is super included in taxable income?
A: Employer super contributions are not included in your taxable income, but they are taxed within the super fund.