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Super Salary Sacrifice

Super Salary Sacrifice

What is a Super Salary Sacrifice?

The super salary sacrifice arrangement is to have some of your pre-tax salary or wages paid into your super fund instead of to you. It can be a one-off payment, or you can set up to pay a portion each pay cycle.

 

Salary sacrificed super contributions are classified as employer super contributions, rather than employee contributions. These contributions are taxed in the super fund at a maximum rate of 15%. Generally, this tax rate is less than your marginal tax rate.

 

What is the maximum concessional contribution to super?

For the 2021-2022 and 2022-2023 financial year, the general concessional contribution cap is $27,500 for all individuals regardless of age.

 

How do I let Whizdom know I want to make a Super Salary Sacrifice?

You can complete our simple online formto set up a super salary sacrifice. Our Finance Team will contact you to confirm the details. If you would like to cancel or stop the arrangement, please email accounts@whizdom.com.au.