Thread: Salary Sacrificing - the Good, Bad and Ugly

From memory you have to be doing > 25,000k pa to make it work. As someone has said, this may reduce the amount your employee has to contribute to super.

Salary sacrifice all depends on where you are in life and what your dispensable income is, lease cars are great, but only if you are lucky enough to afford one anyway, its not as lucrative as it seems

If it health, you can salary sacrifice your home loan, put in every penny up to the limit, this lurk is a godsend for those in health

If you are close to retirement, salary sacrifice every penny you can also, as its also a good lurk to avoid tax and the shortcomings are certainly madde up for when you can pull those dollars out

Its hard for myself, I make 250k in wages( I am hoping this turns to 300k in the next 12 months or so with renegotiation of my contract, but who knows, I may get the ass!), which has no super attached, but I am only 30, so super is not a priority for me(locking my money away till 65 int he hands of the government which could change the rules at any time), I also run a business which makes a sizable amount, I am buying property, smashing my home loan and doing all the capital investment on the place, whilst still living a conservative lifestyle, in 2-3 years I then plan to salary sacrifice as much as I can into a self managed super fund, these are an interesting thing, not so much as good as they sound for those just on wages, as it takes time and effort to manage, but also the accounting fee's are expensive, but I already have a familty trust and have to spend big on accounting, so this helps offset the costs, althoughmy sole focus certainly will not be my super fund, it should just be a top up in my later years

Money talks and its always interesting