Salary sacrificing money into your super account is one strategy you can use to boost your savings for retirement, and it may allow you to pay less tax. Even small amounts add up, thanks to the snowball effect of compound interest. Read this article to find out more about boosting your super through salary sacrifice, or get started below.
How to sacrifice my salary
1. Download
Download the Authority to deduct from my pay (PDF) form.
2. Fill in
Complete your personal details, contribution amount and sign.
3. Request
Give your employer the completed form.
Things to consider
Before setting up a salary sacrifice you should consider the rules around contribution caps, or how much you can salary sacrifice into your super account each year. If you go over the limit, you may have to pay an excess concessional contributions charge.
Other ways to grow your super
Not sure if salary sacrifice is the best way to grow your super? We offer different options for adding money to your super so you can achieve a comfortable retirement. For more information, check out this page.
If you're unsure, don't forget we're here to help. You can give us a call on 13 64 63 or email help@mine.com.au. If your needs are more complex, we can put you in touch with a financial adviser from Mine Super Financial Advice.