Salary packaging superannuation
Save on income tax now while building future wealth for the future, by salary packaging additional super contributions.
Get your super working harder for you
Also known as salary sacrificing, there are many reasons to consider salary packaging voluntary contributions in addition to what your employer may already contribute into your super fund.
Benefits of salary sacrificing super
Super is an important consideration no matter how far off retirement is.
Saving for your first home?
It just got easier with the First Home Super Saver Scheme (FHSSS). Boost your savings by at least 30% by building a deposit for your first home inside a lower-taxed super fund environment.1
The sooner you start, the more you could save
The key to a solid super balance is time – the earlier you start building it, the more you could save. And because you pay a lower tax rate on salary packaged contributions, more money could go towards your actual retirement savings.
Continue to build wealth as you age
Do you have enough in super to live the retirement life you imagine? You can continue salary packaging into your fund until you’re 75, to maximise your savings. You can contribute up to $32,500 per year at a concessional tax rate of only 15%.
It all comes down to your employer’s policy and your employment setup. Try the search bar below to find out.
Important information
This is general information only. Before entering into any salary packaging or novated leasing arrangement, you should consider your objectives, financial situation and needs, and seek appropriate legal, financial or other professional advice based upon your own particular circumstances. The availability of benefits is determined by your employer. Conditions and fees apply. Smartsalary Pty Ltd, ABN 24 096 796 100, a Smart™ company.
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For most people, the FHSSS could boost the savings they can put towards a deposit by at least a significant amount (depending on individual circumstances) compared with saving through a standard term deposit account. This is due to the concessional tax treatment and the higher rate of earnings often realised within superannuation. Refer to the savings example provided above. Prior to commencing additional voluntary contributions for the purposes of accessing the FHSS Scheme, we recommend you contact your superannuation fund to ensure that it allows the release of these contributions and does not have any other relevant limitations or rules in place.