Boost your retirement savings for later - and enjoy the tax savings now
With salary packaging, you can use funds from your pre-tax salary to make additional contributions to your superannuation. This not only reduces your taxable income, meaning you save on tax, but could also boost your retirement nest egg.
Your employer already makes regular superannuation contributions on your behalf as part of your standard salary, but making additional superannuation contributions can go a long way.
What exactly can I package?
Most people can package up to $25,000 a year (including your employer's 9.25% contribution) without incurring any tax penalties.
As of 1 July 2017, the annual cap for concessional contributions cap was reduced to $25,000 per annum for all individuals, regardless of age.
Up until 30 June 2017, the annual concessional contributions cap is $30,000 for those aged under 50, and $35,000 for those over 50.
The temporary higher cap is not indexed and will cease when the general concessional contributions cap is indexed to $35,000. Please refer to www.ato.gov.au for up to date information.
Who can package additional super contributions?
Most employees can salary package additional superannuation contributions. To find out if your employer offers this benefit log into My Employer Hub.
How much could you save each year?
At RemServ, we take the guesswork out of salary packaging.
Use our salary packaging calculator to estimate how much you could save.
Ready to get started?
Already packaging - but now want to add this benefit?