Salary sacrificing means that you are reducing your pre-tax salary to pay that amount as extra super contributions. There are many benefits in making extra contributions from pre-tax income. While increasing your super savings, you are also reducing the amount of your taxable income. Did you also know you can sacrifice (and pay into super) any future leave entitlements if they accrue a cash value under your employment agreement?
There may be limits or restrictions on the amount of contributions that you can make or receive preferential tax treatment for. You should consider getting professional financial advice before making any decisions.
Making your salary sacrifice contributions is easyTalk to your employer about your options to contribute to super from your pre-tax salary.
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The advice contained on the Prime Super website does not take into account your particular objectives, needs or financial situation. Before making a decision regarding the acquisition or disposal of a financial product, you should assess whether the advice is appropriate to your objectives, needs or financial situation. You may wish to make this assessment yourself or seek the help of an adviser. Prime Super takes no responsibility for you acting on the information provided. Any decision that you make is at your own risk. Before acquiring a financial product you should obtain a Product Disclosure Statement (PDS) relating to that product and consider the contents of the PDS before making a decision about whether to acquire the product.
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