Take advantage of Salary Sacrifice
| |
| |
Salary sacrifice is a way of contributing to your super account through
your salary before tax is deducted.
Basically, it can lower your assessable income, reduce your tax and help boost your NGS
super savings.
In some instances, you can use a combination of salary sacrifice and
personal contributions to qualify for the Government co-contribution.
Remember that salary sacrifice contributions are not eligible for the co-contribution as
they are considered to be employer contributions. However, you could salary sacrifice (if your
employer allows this) to reduce your assessable income to qualify for a co-contribution or higher
co-contribution amount.
By choosing to make a combination of both salary sacrifice and voluntary personal
contributions to superannuation, you may become eligible for co-contribution as well as other tax
benefits. As with any financial decision, it's best to get professional financial advice about your
situation.
Please note:
general advice warning
.
Try the
Super smart
calculator
and see what you gain.
Useful Links
Government co-contribution
Super smart
calculator
Accumulation calculator
Career
break calculator
|
|
|
 |
|
