My Salary Details

Tony Sopranoe

This is copied from my contract, can anyone tell me what my take home salary will be, it's my first job here and I'm unsure how it works.

$ 50,000.00 plus 9% superannuation. This includes a LAFHA payment of $550.00 per week (This package is Equivalent to a grossed up annual salary of $50,000.00 after tax, plus 9% superannuation on your base salary.

aido79

Tony Sopranoe wrote: »

This is copied from my contract, can anyone tell me what my take home salary will be, it's my first job here and I'm unsure how it works.

$ 50,000.00 plus 9% superannuation. This includes a LAFHA payment of $550.00 per week (This package is Equivalent to a grossed up annual salary of $50,000.00 after tax, plus 9% superannuation on your base salary.

$50,000/52 = $961.53 per week after tax. 9% superannuation will be paid into a superannuation fund for you..kind of like a pension.

universe777

http://www.paycalculator.com.au/

you can select 2011-2012 and 2012-2013 to see what you'll get after July 1st.
Tick or untick if Super is included at the side etc.

Tony Sopranoe

Thanks guys, this is a contract I agreed to a few weeks ago. I'll be starting the job next week.

Is the 9% super annuation the standard rate?

I'll be doing a 47 hour week so just figuring out what my hourly pay works out at.

csm

Be careful on your LAFHA entitlement. Depending on your circumstances you may not be eligible for LAFHA from 1st July this year.

Mellor

aido79 wrote: »

$50,000/52 = $961.53 per week after tax. 9% superannuation will be paid into a superannuation fund for you..kind of like a pension.

His salary is 50k before tax not after. LAFHA might not apply in this case.

Tony Sopranoe wrote: »

Thanks guys, this is a contract I agreed to a few weeks ago. I'll be starting the job next week.

Is the 9% super annuation the standard rate?

I'll be doing a 47 hour week so just figuring out what my hourly pay works out at.

9% is the legal minimum, everyone must get at least that.
It not part of your salary and is paid into a separate fund for you.

For a 47 hour week, $50k/yr works out $20.50 or so an hour.

Without the LAFHA payment you $961 gross weekly will be about $800 after tax. If you get to keep the LAFHA benefit, then your tax will be almost nothing. Most likely, you won't get it to keep the LAFHA benefit and will have to pay tax.

cormaclynch

Whats the Job Tony?