Salary Sacrifice to Superannuation Application form

Before commencing please note the following:-

• A standard member contribution is the default contribution deducted from your pay if you have a non-casual/non-sessional employment contract of 12 months or more.
• A voluntary contribution is a contribution you can elect to pay over and above the standard member contribution.
• Do not use this form if you wish to cease or reduce the rate of your standard member contribution. UniSuper members must use the UniSuper Contribution Flexibility application available from the UniSuper website.
• If you wish to make a voluntary contribution to superannuation from after-tax pay, please go to this form.
• This form will be processed for the next available pay period. Cut-off days for the next pay period are the Thursday before the pay.
• Further information regarding the salary sacrifice of superannuation can be found at www.hrd.qut.edu.au/staff/benefits/sacrifice.jsp

To initiate a request for salary sacrifice of superannuation contributions, please fill in the fields below.

It is recommended that you seek financial advice before commencing salary sacrifice arrangements.

If you require any help with the process please contact the Superannuation Officer.

* Mandatory fields

I understand that I have been advised to seek independent financial advice in respect of this flexible remuneration arrangement offered by Queensland University of Technology to me and the agreement proposed to be entered into between me and Queensland University of Technology.

I also hereby release and indemnify Queensland University of Technology, its agents and employees, from and against all actions, claims, demands and proceedings whatsoever which may arise in connection with my participation in this flexible remuneration arrangement offered by Queensland University of Technology.

• To be effective, the salary sacrifice election must pre-date the work you do to earn the salary you wish to sacrifice. QUT will determine the start date of this election on this basis.
• Standard member contributions are grossed up to account for the 15% contribution tax incurred upon entry to the superannuation fund. For example, a UniSuper standard member contribution of 7% is grossed up to 8.25%.  Voluntary contributions are not grossed up but will still incur a 15% tax upon entry to the superannuation fund.
• Salary sacrificed contributions are defined as "concessional contributions". Along with employer contributions, salary sacrifice contributions count towards the "concessional contribution tax limit ". This limit for the 2010/2011 financial year is $25,000 for people under age 50 and $50,000 for people over age 50.
• Salary sacrificed contributions are "reportable employer superannuation contributions" and may still count as income for the purposes of calculating your entitlement to some government benefits and the repayment of HELP debts.
• Salary sacrificed contributions are not eligible as personal contributions for the Federal government co-contribution scheme. See voluntary after tax contribution form.
• This election does not constitute an election to salary sacrifice all or part of your unused leave entitlements, paid upon termination. Such an election is not available. All such entitlements must be taken as a cash payment.
• The salary sacrificing of superannuation contributions, administered by QUT, is restricted to the funds to which QUT normally pays your contributions. These are either UniSuper or QSuper. Salary sacrificing contributions to any other superannuation funds remains administered by PackagePlus Australia Pty Ltd.
• It is recommended you seek independent, qualified financial advice prior to entering into a salary sacrifice arrangement as the complexities of superannuation and tax legislation can have an impact on your financial situation. QUT staff members are limited to providing information and are not qualified or authorised to provide you with any financial advice in this regard.