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Salary Sacrifice
Whilst salary sacrifice has been traditionally used for benefits like cars, car-parking, health insurance etc., another option is to contribute to your superannuation fund.
Benefits of Salary Sacrifice |
Superannuation contributions which are made through a salary sacrifice arrangement to a complying superannuation fund, are Fringe Benefit Tax exempt.
Salary sacrifice contributions are paid in pre-taxed dollars and are therefore not taxed as income before being placed in the superannuation fund. Superannuation contributions are taxed at 15% in the fund, which is lower than most personal tax rates* . This means that you will have more dollars working for your retirement savings than would be the case if you made normal member contributions. | |
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