S

Salary Continuance Insurance:  Provides a monthly income of up to 75% of your pre-disability income (subject to a maximum amount) for up to two years, if you become disabled due to sickness or injury.

Salary sacrifice: A way to make before-tax (concessional) contributions to your super. The money you 'sacrifice' is paid directly from your salary into your super account before you pay income tax.

Selection date: This is the date each year we use to calculate the amount you need to contribute to Gold State Super, taking into account your chosen contribution rate.

Superannuation Guarantee (SG): The compulsory rate (defined by the Commonwealth government) of contributions your employer must make to your super. Currently the rate is set at 9%.

Superannuation Surcharge: This is an additional tax that applies where a member's adjusted taxable income (normally the member's taxable income plus surchargeable contributions) is over a specified threshold in a financial year. The government abolished the superannuation surcharge from 1 July 2005.  It is important to note that the abolition of the superannuation surcharge will not affect any superannuation surcharge tax liabilities owed before 1 July 2005.