tricky question about earnings; Please respond

[zhassan]

Hi Gurus,
I have had posted this question on this forum before, but didn't get any clear response. I am Australian and working with an employer which also contributes 14% to Super funds(old age benefits). These funds are not calculated as income at the end of the financial year as these are only accessible at old age with after some tax deduction, however on every salary slip this amount is cleary mentioned.

Now my question can I include this amount in my earning? I request a very clear advice in this regard.



Cheers,
ZIA

[LankanFunkin]

By my interpretation of the rules, I'd say you can include this amount only if its a sum deducted from your salary and applied to the fund. I.e. off $1000 gross, $80 is deducted and put in this fund, then you should count that as you should be making your calculations with your gross figure anyway.

However, if the company makes a matching contribution to this fund on your behalf, i.e. they match your $80 contribution, then I would assume that amount cannot be counted, as it was never a part of your salary to begin with.