Concessional Superannuation Contributions (Pre-Tax)
The Income module allows you to record the client's various income sources, along with any pre-tax adjustments.
Once you have entered the client's income, you will be able to scroll down to see further entry fields in relation to additional concessional (pre-tax) superannuation contributions (both salary sacrifice and additional employer), and Salary packaging details, such as Novated Motor Vehicle Leases, and Home Loan and Credit Card pre-tax payments.
Associated Super Contributions (Taxed in Fund)
Under this heading you can include any salary sacrifice contributions, along with Employer Additional contributions (if the employer contributes more than the regulated level of superannuation guarantee contributions).
1. Salary Sacrifice (a specified amount)
* Select "Salary Sacrifice" from the dropdown menu
* Enter either the amount per annum, OR the percentage of salary per annum
* Set the applicable start and end date for the salary sacrifice contributions
* Select the Fund that the contributions will be paid into
* Click UPDATE to save the data entry
2. Salary Sacrifice - Max This Year Cap
This setting allows you to maximise the salary sacrifice contributions up to the maximum concessional cap in the applicable years
* Select "Salary Sacrifice - Max This Year Cap" from the dropdown menu
* DO NOT set an amount or a percentage (Prospera will calculate that for you)
* Set the applicable start and end dates for the contributions
* Select the Fund that the contributions will be paid into
* Click UPDATE to save the data entry
3. Salary Sacrifice - Max Available Cap
This setting allows you to maximise the concessional contributions, utilising any unused contributions carried forward
* Select "Salary Sacrifice - Max Available Cap" from the dropdown menu
* DO NOT set an amount or a percentage (Prospera will calculate that for you)
* Set the applicable start and end dates for the contributions
* Select the Fund that the contributions will be paid into
* Click UPDATE to save the data entry
4. Employer Additional contributions
If an employer contributes more than the legislated Superannuation Guarantee Contribution (SGC) rate, enter the amount ABOVE the regular superannuation guarantee contributions that the employer is contributing
* Select "Employer Additional" from the dropdown menu
* Enter either the amount per annum, OR the percentage of salary per annum
* Set the applicable start and end dates for the contributions
* Select the Fund that the contributions will be paid into
* Click UPDATE to save the data entry