For many people, relying on employer contributions won't be enough to fund their future dreams. Putting a little extra into super yourself using salary sacrifice can make great sense.
What is salary sacrifice?
Salary sacrifice involves having your employer pay some of your salary into your super account rather than receiving it as take- home pay.
Pay less tax with salary sacrifice
- Reduce your taxable income
With some of your salary going into super, you’ll lower your taxable income and that could save you from paying higher rates of tax.
- Lower tax rates on contributions
You also pay just 15% tax on your contribution into your super account, making salary sacrifice one of the most a tax-effective ways to save for your retirement.
Boost your super
Putting just a little extra into your super now can make a big difference to the lifestyle you'll have in retirement.
Step 1 - See it work for you
Step 2 - Make it happen
Just ask your employer if salary sacrifice is available to you. They can usually make the arrangements on your behalf.