What Is Superannuation?
Superannuation is a compulsory retirement savings contribution made by an employer on behalf of the artist. The fees payable to the artist are inclusive of any superannuation payable by Symphony Australia. Symphony Australia will deduct and contribute 9% (up to the quarterly maximum indexed annually) of the artist's fees and lodge this into an approved Australian superannuation fund. Our default fund for international artists is MEDIA SUPER (formerly JUST SUPER).
However, the artist is entitled to choose his or her own complying Australian superannuation fund. Please advise before the beginning of your tour if you wish for your contributions to be made into a fund other than MEDIA SUPER.
In the Information Pack given to you on arrival by the Artist Liaison Officer you will find a Media Super membership application form to fill out.
Superannuation contributions must be made until the artist reaches his or her 70th birthday. However, superannuation fund members on temporary working visas who are departing Australia permanently (except New Zealanders) are able to access their contributions prior to retirement.
Symphony Australia sends the superannuation contribution and membership applications to MEDIA SUPER on a monthly basis. MEDIA SUPER will then process the funds and send the artist a welcome letter containing a membership number. Artists will need this membership number as well as a copy of their visa approval letter for the Benefit Application. There is a withholding tax of approximately 45%.
The artist will be able to reclaim their superannuation contributions directly from MEDIA SUPER within six months of departing Australia. Please see http://www.mediasuper.com.au/ for further information. Alternatively, benefit applications can be made electronically on the ATO website under http://www.ato.gov.au/superfunds/content.asp?doc=/content/00173442.htm.
After six months from departure MEDIA SUPER is required to transfer the funds held for people on expired temporary work visas to the Australian Tax Office. The benefit application can then only be made electronically from the ATO website.
For further information, please contact Media Super directly:
Media Super Administration
Locked Bag 1229
Wollongong NSW 2500
Australia
www.mediasuper.com.au
Tel: 1800 640 886 or for callers outside Australia: +61 2 4298 6022
Fax: 1800 246 707
Owing to strict Privacy Legislation in Australia, Symphony Australia and the orchestras cannot act on behalf of the artist in obtaining information on their super account or in claiming benefit payments. The artist must contact Media Super directly.