14 How much should I salary sacrifice?

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Gavin Martin, Financial Adviser and Managing Director of Cornerstone Wealth, addresses the question "How much should I salary sacrifice?", including: 1. Ideally reduce your taxable income to the 15% marginal tax rate - During the 2011/12 financial year that means $37,000 taxable income 2. Do not exceed concessional contribution limits a. During the 2011/12 financial year the limits are: i. $25,000 p.a. for those under 50 years of age ii. A transitional cap of $50,000 p.a. applies to people aged 50 or over until 30th June 2012 iii. Includes Superannuation Guarantee, Salary Sacrifice and Personal Deductible Contributions 3. Ensure you meet your cash flow requirements 4. Consider a Transition To Retirement strategy if you are eligible

Disclaimer
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Category:

Education

Tags:

• Salary Sacrifice
• Salary Sacrifice to Super