Someone In Australia With A Salary Of $110,000, What Would aicndbU

In Australia, the mandatory Superannuation Guarantee (SG) contribution rate for the 2024 financial year is 11.5% of your ordinary time earnings (OTE).

For someone earning a salary of $110,000, the minimum Superannuation contribution would be calculated as follows:

  • Salary: $110,000
  • Superannuation Contribution Rate: 11.5%

Calculation: [ \text{Superannuation} = \text{Salary} \times \text{Superannuation Rate} ] [ \text{Superannuation} = 110,000 \times 0.115 = 12,650 ]

Therefore, the minimum Superannuation contribution on top of the salary of $110,000 would be $12,650.

For more detailed information, you can refer to the Australian Taxation Office here or check comprehensive updates on Superannuation rates on Nationwide Super.

Sources

Super guarantee | Australian Taxation OfficeSuperannuation Rates and Thresholds for 2024 - Nationwide SuperSuperannuation Guarantee Rate 11.5% - AustralianSuperSuperannuation guarantee (SG rate) - QSuperSuperannuation Guarantee Rate Changes - Industry SuperSuperannuation rate - Australian Retirement TrustSuperannuation Guarantee contributions rate and rules - SuperGuide
Increase to employer super contribution rate | Walsh AccountantsSuperannuation Changes for the 2024 Financial Year

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