Adhoc Contributions

Legislation states that contributions can generally be made if you are:

• Under age 65.
• Under the age of 65 and your spouse contributes for your benefit, or if you are aged between 65 and 70, your spouse can still contribute for you as long as you are working at least 40 hours in a consecutive period of 30 days. (restricted to contributions from the member if aged 70 and less than 75)
• Aged between 65 and 75 and are working at least 40 hours in a consecutive period of 30 days.
• Rolling over an existing superannuation benefit.  Members may make subsequent contributions where they satisfy one of the requirements listed above.

Employer Superannuation Guarantee and Award contributions may be made on your behalf regardless of your age or employment status.

Contributions for which a tax deduction may be claimed by you personally or your Employer, are limited depending on your age.

Aged Based Limits

Your age	Maximum tax deduction for 2005/2006	Contribution required for maximum deduction
Under 35	$14,603	$17,804
35-49	$40,560	$52,413
50 or over	$100,587	$132,449

The portion of contributions that have been claimed as a tax deduction will be taxed when received by a superannuation fund.  Tax deductible contributions also form part of the Pre and Post 1983 components of an eligible termination payment.

There is no minimum or limit on the amount of contributions that may be made to Statewide and the size of contributions can vary from time to time.

Understanding that your circumstances do change, Statewide provides you with the flexibility of choosing how frequently you contribute to your superannuation account. Failing to make or continue contributions may result in loss of Insurance Cover and reduced or no superannuation benefits. Please contact Statewide for further information.

Notes:

• Gainful employment means employed or self-employed for gain or reward.
• Spouse for Eligible Spouse Contributions includes a person who lives with a Member as husband or wife but does not include living separately and apart on a permanent basis.