Super vs mortgage calculator
Estimated time: 5 mins
Helps you work out if you are better off putting
spare money into your super or your mortgage.
- If you might need to access this money before you retire, then
put it in your mortgage
- If you earn less than $50,454, make an after-tax super
contribution to get the government
Then use this calculator to decide where to put your remaining
- Remember to press the "tab" or "enter" key to update the graph
if you change a field
Please note: iPads and iPhones do not support Flash (as well as
some other mobile devices)
If you see this message:
- Flash may still be downloading, or
- Your browser may not have Flash installed (You
can download the latest version for free from http://get.adobe.com/flashplayer/),
- You are using an iPad or iPhone which does not support
The MoneySmart team is working towards replacing Flash on our
website so calculators will render across all devices.
About this calculator - disclaimer,
assumptions & further information
- This is a model not a prediction. Results are
only estimates, the actual amounts may be higher or lower. We
cannot predict things that will affect your decision such as
movements in investment markets.
- This calculator works with individual incomes, not joint
- This calculator is not intended to be your sole source of
information when making a financial decision. You should consider
whether you should get advice from a licensed financial
- Refer to the "How it works" section within the calculator for
- This calculator assumes you are already making after-tax
contributions to maximise your government co-contribution. It does
not include co-contribution in the calculation.
- After you put a contribution into super it must stay there
until you retire. Weigh up the benefits of extra super against your
other priorities, for example paying off your credit cards.
- You can save one or multiple versions of the calculations
within MoneySmart and retrieve them at a later date
- You can print your results
- You will need your current mortgage details like how much you
owe, the interest rate and how much time is left on the loan.
- You will need Adobe
Super vs mortgage calculator FAQs -
frequently asked questions
Q. How do I retrieve a saved calculator?
A. To retrieve a saved calculator, go to the relevant calculator
and click on the "select saved calculator" dropdown menu in the
toolbar (see example below) and select your previously saved
calculator from the list.
If you are not already logged in you will be asked to login. After
entering your username or email and password, you will be able to
select any previously saved results.
Q. Do calculators save data automatically?
A. No, you will need to click on the "Save" icon if you wish to
save your budget.
Q. Why can't I see your calculators on my iPad or iPhone?
A. This calculator was built using Flash at a time when Flash
was accessible to the majority of internet users. Since then, iPads
and iPhones have become very popular and they do not support Flash
files. The MoneySmart team are recreating all our calculators in a
format that will be usable on all devices. Unfortunately, this
process will take a while, so stay tuned!
Q. Are there advanced settings I can change?
A. Yes, within the calculators that you can save, there are some
defaults and assumptions that you can adjust as required. These can
be found within the "How it works" or "Settings" sections.
Q: My super fund return is lower than my mortgage interest
rate, why does the calculator tell me I will have more if I put
spare cash in super?
A: Money salary sacrificed into super is taxed at 15%. Money
credited to your mortgage has been taxed at your marginal tax rate,
likely to be much higher. For example, someone earning between
$37,001 and $80,000 has a marginal tax rate of 32.5% (not including
the Medicare levy). This means there is more money going into
- $1,000 - $325 (tax) = $675 to mortgage
- $1,000 - $150 (tax) = $850 to super
Last updated: 28 Jul 2016