Super

Salary sacrificing some of your pre-tax income into your super could be a beneficial strategy to help boost your super and help you save money on tax.

This arrangement must come about through an agreement with your employer. They reduce your salary by the amount of the superannuation contributions you want to make. The employer then makes contributions on your behalf equal to the amount of salary you have sacrificed.

By using this option you don't pay personal income tax on the part of your salary that's been sacrificed to superannuation. Instead you pay a 15% superannuation tax, which could be a lower rate than your marginal tax rate.

You should consider your own individual circumstances and obtain advice from a financial planner or an accountant. The disadvantages of salary sacrifice can sometimes outweigh the advantages, depending upon your personal circumstances.