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<p class="greenHeader">Annual caps on super contributions</p><p><em>Provided by Mercer<br />1/7/10</em></p><table width="100%" cellpadding=0 cellspacing=0 border=0><tr valign=top><td width="100%"><p><p><strong>Annual caps apply to super contributions. If your contributions exceed these caps then significant additional tax may be payable.</strong> </p><p /><h2>Caps on ‘non-concessional' contributions</h2><p /><p>Non-concessional contributions include those made to your super from your after-tax salary and other less common <a class="inlineLink" href="http://www.mercerwealthsolutions.com.au/glossary/term/447/" target="_blank">non-concessional contributions</a>. </p><p>The caps for the year to 30 June 2011 are:</p><ul><li>$150,000, or   </li><li>$450,000 over three years for people under age 65. </li></ul><p><br />Contributions in excess of these caps will be taxed at 46.5%. <br /></p><p /><p /><h2>Caps on employer, salary sacrifice (and other 'concessional') contributions</h2><p /><p>Caps are applied to the total of employer, salary sacrifice and other less common <a class="inlineLink" href="http://www.mercerwealthsolutions.com.au/glossary/term/434/" target="_blank">concessional contributions</a>.</p><p>The new caps for the year to 30 June 2011 are:</p><ul><li>$25,000* or</li><li>$50,000 if you are aged 50 or over by 30 June 2011</li></ul><p><br />The caps for the year to 30 June 2010 were:</p><ul><li>$25,000* or  </li><li>$50,000 if you were aged 50 or over by 30 June 2010.</li></ul><p><em><br />*Indexed.</em></p><p>Additional tax of 31.5% will be payable on contributions in excess of these caps making a total tax rate of 46.5% including the usual 15% tax.  In certain circumstances the tax rate may be as high as 93% because excess concessional contributions are also counted as non-concessional contributions.</p><p>For confirmation of your year to date contributions you should contact your super fund. Mercer Super Trust members can call the Mercer Helpline on <strong>1800 682 525</strong>.<br /></p><p><br /></p><p><table width="100%" cellpadding="0" cellspacing="0" border="0">
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<p> </p><p><strong>IMPORTANT</strong><p><span id="disclaimer">Mercer, MINL and their directors, employees and agents (collectively ?Mercer Parties?) do not accept any responsibility for or arising in any way (including for Mercer Parties? negligence) for errors, omissions or otherwise for any loss or damage of any kind at all (including consequential loss) arising directly or indirectly out of this information.</span></p><p><span id="disclaimer">This information has been prepared by Mercer (Australia) Pty Ltd ABN 32 005 315 917 for general information only. The information does not take into account your personal objectives, financial situation or needs. 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 consult a licensed or appropriately authorised financial adviser before making any investment decision.</span></p></td><td><img src="/images/spacer.gif" height=1 width=20 border=0 alt=""></td></td></tr><tr><td></td></tr></table>

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This website is provided by Mercer (Australia) Pty Ltd (Mercer) ABN 32 005 315 917 as corporate authorised representative #260851 of, and on behalf of, Mercer Investment Nominees Limited (MINL) ABN 79 004 717 533, Australian Financial Services Licence #235906. MINL is the trustee of the Mercer Super Trust, ABN 19 905 422 981 (which includes the Corporate Superannuation, Personal Superannuation and Allocated Pension Divisions), the trustee of the Mercer Portfolio Service Superannuation Plan ABN 92 181 844 838, the responsible entity of the Mercer Portfolio Service Investment Plan and a wholly owned subsidiary of Mercer. Allocated Pensions and Transition to Retirement Allocated Pensions are provided through the Allocated Pension Division of the Mercer Super Trust. Mercer provides the Mercer Self-Managed Super Service (the Service) as a corporate authorised representative of MINL. Please refer to our Financial Services Guide. 'Mercer Wealth Solutions' and the petal logo are registered trademarks of MINL. Mercer financial advisers are authorised representative of MINL. This website contains general financial product advice which has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the relevant Product Disclosure Statement for any of the products referred to in this website or the Product Information Statement for the Service and obtain advice from a licensed, or appropriately authorised, financial adviser before making any decisions concerning any of those products or the Service. For details on obtaining a Product Disclosure Statement for any of the products referred to in this website or the Product Information Statement for the Service refer to the website or contact 1800 633 403. © 2010 Mercer (Australia) Pty Ltd.