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Do you have a question you'd like to ask?
If you have a general financial question you would like to ask, our experienced panel of Mercer Wealth Solutions financial advisers is here to help - simply send your question in and each month we will select one question to answer online.
Please note that questions cannot be answered personally. If your question relates to your personal super account, or you need an immediate response, you should contact your super fund for assistance. Mercer Super Trust members should contact the Helpline on 1800 682 525.
To speak directly with a Mercer financial adviser call 1800 633 403.
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Jade
Khao Sydney |
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Lynda
Cross Melbourne |
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Tony
Doyle Parramatta |
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Richard
Carey Sydney |
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Stephen
Mehrton Newcastle |
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Diane
Haggett Glen Waverley |
Find out more about our panel  |
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Q: Christine from Thornback, NSW asks:
What is the salary cap for salary sacrifice into my Mercer super fund? |
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A: Jade answers:
If you are actually referring to the concessional contributions cap, it is $25,000 per annum for 2010/11. However, if you are at least aged 50 by 30 June 2011 then the limit is $50,000.
Concessional contributions include (but are not limited to):
- Employer contributions including compulsory super guarantee, additional salary sacrifice
- Personal contributions to super for which you’ve claimed a tax deduction.
 more
In the Federal Budget delivered in May 2010, the Government confirmed its plans to maintain this $50,000 limit for those over age 50 that have super balances of less than $500,000 from 2012/13. However, at the time this ‘Ask an adviser’ was prepared the Government had not yet passed legislation that would permit this.
It is important to note that if you have more than one superannuation fund, all concessional contributions made to your funds are added together and count towards the cap. So any concessional contributions made to your ‘Mercer super fund’ (including any salary sacrifice contributions) will be added to the concessional contributions made to your other super fund accounts (if any) and all count towards the cap. The cap is not indexed.
To speak with a Mercer financial adviser, simply call 1800 633 403 or register to have a Mercer financial adviser call you. There is no fee for an initial discussion with a Mercer financial adviser, however fees may apply if you choose to proceed.
Jade Khao is an authorised representative #297473 of MINL. To read more about Jade, click here.
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Published: 21/7/10 |
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The information above contains general financial product advice only and does not take into account your personal objectives, financial situation or needs or those of any other person. Therefore, you should not act on this information if you have not considered the appropriateness of this information to your personal objectives, financial situation and needs. You should obtain advice from a licensed or appropriately authorised financial adviser before making any investment decision. |
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If you would like a face-to-face meeting with a Mercer financial adviser we have offices nationally.
The initial consultation involves assessing your current situation and identifying the relevant issues that require advice. While there is no cost for this initial meeting, any personal financial advice that results will incur a fee.
To arrange an appointment, simply call 1800 633 403.
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