Hi,
I have a salary sacrifice arrangement in place to deposit $1,115 each month into my super account on top my employer's contributions. My goal is to reach the maximum amount of $50,000 plus interest to put the money towards a deposit.
I have been using ATO's web site to monitor the growth and see when I hit the $50k ceiling, using FHSS Determination tool. Each month, after my salary sacrifice contributions appear on ATO's website, I request a new determination. However, since November 2025, despite the fact that individual deposits into my superannuation account are visible on the web site, total amount is not increasing by much. Here are the numbers:
- November 2025: $48,226.50 (Concessional contributions (before tax) $40,468.50)
- December 2025: $48,793.00 (Concessional contributions (before tax) $40,919.00)
- January 2026: $48,998.00 (Concessional contributions (before tax) $40,919.00)
My math is not very good. However, I was expecting the amount to grow by 85% of $1,115 plus 6% interest each month. ATO's web site says if I disagree with the calculations, I should fill out a form and either snail post or hand deliver it to their office, which is a waste of time on my part and resources on ATO's part.
Does anyone know how ATO does their calculations? Does anyone at ATO know?
Cheers,
84 views
1 replies