Superfund and Salary Sacrifice

Superannuation plays an important role in securing your lifestyle in retirement. Intuit provides the mandatory super contributions (called super guarantee, or SG), which is 10% of your earnings (base salary + variable + health allowance), into your super.

You have the right to choose into which superfund to direct your SG contributions. You also have the choice to contribute into your superfund, referred to as salary sacrifice, up to set contribution limits.

Eligibility

Full-time and part-time employees.

How It Works

How to Enroll

Learn how to set up salary sacrifice.

How to Get Started

Intuit has nominated smartMonday PRIME by Aon as the default fund for employer SG payments (unless you elect otherwise). The Superfund Standard Choice Form will be provided to you, along with other new hire paperwork, prior to your start date. Please complete and return the form as per the instructions provided by your talent acquisition coordinator.

Benefits of Salary Sacrifice

  • A pretax contribution from your salary is a tax-effective way to build your retirement savings.
  • Concessional super contributions are taxed at the concessional tax rate of 15%.
  • Money is deducted directly out of your salary and used to buy the benefit with pretax dollars.
  • Once you set up the arrangement with Payroll, your contributions are automatically made each pay cycle (you can change the amount at any time).

Concessional Contributions

Concessional contributions are made into your superfund before taxes. Intuit will cap (stop) contributions once the concessional contribution cap is met for that year (based on Intuit payroll records). Concessional contributions include employer contributions, such as:

  • Compulsory employer contributions
  • Any additional pretax contributions your employer makes
  • Salary sacrifice payments made to your superfund
  • Other amounts paid by your employer, such as administration fees and insurance premiums

Concessional Contribution Caps

As of 1 July 2017, the general concessional contributions cap is $25,000 per annum for all individuals regardless of age.

Common Questions

How do I set up salary sacrifice.

How do I name or change a beneficiary?

Resources

Salary Sacrifice Program Presentation

Where to Get Help

smartMonday PRIME by Aon
Ian Dudley
Phone 0466 745 290
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Email Ian Dudley

HR Connect
Phone
0011-800-2847-1577
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Related Pages

Employee Stock Purchase Plan
Superfund and Life Insurance