Regarding a statement in the NTCER Schedule A Remuneration, I don’t understand how superannuation works in practice because 44.79% + 11.5% does not equal 49.94%.
The NTCER outlines your minimum employment terms and conditions
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Payment for ordinary hours for a registrar is calculated over the billing cycle and will be the higher of a) or b) below.
a) the base rate of pay for registrar, plus the statutory rate of superannuation as determined by the Commonwealth, currently 11.5%
b) the ‘percentage’ of 49.94% comprising 44.79% of in-hours, after hours and on-call gross billings or receipts, plus the statutory rate of superannuation as determined by the Commonwealth, namely 11.5% as at 1st July 2024.
GPRA member: “I don’t understand how this works in practice because 44.79% + 11.5% does not equal 49.94%.”
If you check Schedule A of the NTCER: your percentage payment is at least “49.94% comprising 44.79% of in-hours, after hours and on-call gross billings or receipts, plus the statutory rate of superannuation as determined by the Commonwealth, currently 11.5% (i.e. 44.79% + 11.5% of 44.79% = 49.94%).
So 44.79% of your billings or receipts contribute to your gross wages (provided this is higher than your base rate of pay across the billing cycle) and 5.15% (i.e. 11.5% of 44.79%) of your billings or receipts are paid into your superannuation account.
You can read the NTCER here.
