Contributing to Auswide

The following are different types of contributions, which can be received by Auswide.

• Employer Contributions
• Superannuation Guarantee Contributions
• Salary Sacrifice Contributions
• Spouse Contributions
• Personal Contributions
• Roll-overs
• Government Co-Contributions

Auswide is able to accept contributions via cheque, direct debit or electronic funds transfer (EFT). To find out more about our flexible payment options simply call us on 1300 88 56 65.

Please note: Various conditions currently apply to members when accepting contributions for them into Auswide. Click here to view them.

Superannuation Guarantee
Superannuation Guarantee Contributions (SGC) began in 1992. Generally, all employers are required to contribute superannuation guarantee contributions of 9% of ordinary time earnings for each employee who earns over $450 a month. For further information on Superannuation Guarantee you can call your adviser, Auswide Member Services on 1300 88 56 65 or the Australian Taxation Office's Superannuation Guarantee Hotline on 13 10 20.

Salary Sacrifice
Salary Sacrifice contributions are arranged between an employer and employee, whereby the employee gives up part of their pre-tax salary as a superannuation contribution. This type of contribution cannot be released until retirement. The benefit of these contributions is that they are taxed at 15% rather than the employee's marginal tax rate, subject to legislated limits. For further information on this type of contribution refer to our Member Guide.

Industrial Awards
Industrial Awards usually have superannuation clauses in them. These clauses stipulate details of superannuation contributions such as the amount and which type of employee is eligible. SGC can be utilised to fulfil Industrial Award superannuation obligations.

Voluntary Employer Contributions
Employers are able to pay voluntary contributions for their employees as an added benefit of employment. These discretionary contributions have limits as to the amount, which is tax deductible for the employer.

Spouse Contributions
Auswide is able to accept Spouse Contributions. The Federal Government introduced a new initiative to increase the retirement savings of Australians during 1997-1998. An individual may contribute on behalf of their spouse and receive a tax rebate if the spouse earns less than $13,800. The tax rebate of up to $540 is available for a maximum of $3,000 in contributions made on behalf of the spouse.

Personal Contributions
Auswide accepts and encourages members to make personal contributions. Members may benefit from tax concessions and members may make contributions as frequently as they wish.

Roll-Overs
Members may benefit from consolidating multiple superannuation accounts into one, as it is easier to keep track of accumulating superannuation benefits and assist in minimising administration fees. Auswide can assist members to roll-over any existing superannuation accounts into Auswide even taking care of all the paper work for you! Auswide recommends that you consult your financial adviser before taking any action.

Government Co-Contributions
If your employer provides your super, any personal contributions are generally not tax deductible.  However, the government may make a co-contribution of up to $1,000 each year, if your assessable income (plus reportable fringe benefits) is less than $61,920.  These contributions are not taxed when received by a superannuation fund.

Substantially Self-Employed Contributions
If you are classed as substantially self-employed and meet eligibility criteria for tax purposes, you may claim a tax rebate for concessional contributions up to $50,000. Refer to our Member Guide for more information.

Auswide recommends that individuals seek professional financial advice before making contributions.