WebConsider investing outside super with anything above that amount. 1500 a week is 39k a year. Your income over 37k is taxed at 32.5% so I would at least salary sacrifice the 2k. Below 37k you're taxed at 19% and the tax in super is 15% so you would save the 4% difference which isn't as much. WebAdding to your super. You can add to your super by entering into a salary sacrifice arrangement with your employer, making personal super contributions, transferring super from foreign super funds or you may be eligible for government contributions. There are limits on how much you can contribute to your super each year.
Risks and Disadvantages of Salary Sacrifice - Super Guy
WebContributing some of your pre-tax salary into super could help you to reduce your tax and invest more for your retirement. Let's say you have an income of $60,000 and you chose to salary sacrifice $10,000 over the course of the year. Your taxable income would drop to $50,000. This means you’d pay around $7,797 in tax instead of $11,047. WebTo add extra to your super you need to pass the government work test by working at least 40 hours in any 30 days in this financial year. If you are working less hours you should talk to your super fund. Suits me bestBack to all options Salary sacrifice + lump sum and no tax claim You pay a lump sum to gain the maximum government co-contribution. matthew 22 david guzik
Is it worth salary sacrificing your super? - BT
WebYour income over 37k is taxed at 32.5% so I would at least salary sacrifice the 2k. Below 37k you're taxed at 19% and the tax in super is 15% so you would save the 4% difference which … WebOct 27, 2024 · There are limits as to how much you can contribute to your super, which are outlined below. Not worth it if you earn below $37,000. If you earn below $37,000 your income is only taxed at 19%, so it might not be worth salary sacrificing as you’d only be taxed 4% less. Super salary sacrifice limits WebJan 30, 2024 · Before salary sacrifice After salary sacrifice ; Annual gross salary: £30,000: £28,500: Employee contribution to pension : £1,200 (£1,500 after pension tax relief at 20% on contributions for ... matthew 22 clip art