Step 5 - Enter SUPER data from Client Fact Find

Step 5 - Enter SUPER data from Client Fact Find

SUPER


1.      Click on SUPER from the left-hand  menu to take you to the Super screen.
This screen displays the Existing Superannuation Accounts.  

The Superannuation and Future Pension Funds have been created for the client members.



2.      Click on the relevant Account to open the Account Details.



3.      Check the following pre-entered details In the left-hand column:
*     If the SGC fund is eligible to receive a co-contribution,
      select "Yes" from the dropdown box menu

*    The default net rate of return on super is set at 5.9%.  
      If you would like to incorporate a different return rate, you can update it.

4.      Add the Account Balance in the relevant component fields in the right-hand column.

5.      To add existing non-concessional (after-tax) super contributions, scroll down to the 'Contributions (Funding from Expenses)" section.  
Superannuation Guarantee contributions are automatically included, based on the salary income entered on the Income screen.    

 6.      To add either Regular Contributions or Lump Sum Contributions here, click the ADD button
           under the relevant heading, which will add an additional contribution  field (as shown below)


Select the appropriate date for the contributions (a start and end date in the case of a regular contribution).

Select the Contribution type:

    • Non-Concessional   -   after-tax contribution (not tax deductible), made from cash flow

    • Max Out Concessional Only  -   a tax deductible contribution, made from cash flow, which contributes the lesser of:
-   The contribution amount entered;   OR
-   Sufficient concessional contributions to reach the applicable cap ONLY 
    (even if the amount you enter is more than the amount required to reach the cap)
    • Nominated Amount from Concessional First    -    a contribution, made from cash flow, which may be partly tax deductible and partly not tax deductible
The amount required to reach the Concessional Cap will be contributed first, and the balance of the contribution will be contributed as a non-concessional contribution.
Set the Funding Account - which should be the Surplus Account.

Click UPDATE to save the contribution.

"Keep?", at the far right of the data entry row, simply means that you want to keep the entry, when set to "Yes".  

If you wish to delete an entry you have already made, simply select "No" from the drop-down menu here, and click UPDATE.

Link to Next Article -  Modelling Income

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