Whether you are new to the workforce or are approaching retirement, it is important to consider your superannuation savings. Keep your money working for you through every stage of life and ensure that your super is performing to the best of its abilities.
There are several ways that you can organise your super, including:
- Managed Funds
- Self-Managed Super Funds
- Salary Sacrifice
In addition to preparing you for retirement, superannuation and salary sacrifice is also an effective way to minimise your tax liability. Depending on your gross annual income, you may find salary sacrifice to be a tax effective option for you. As salary sacrifice is paid into your super account before tax is applied, your overall taxable income will be lower.
Please consult with your Accountant to see which superannuation options are best for you.
At MAS Tax Accountants our sister company, Vivid Financial Planning Pty Ltd, holds an Australian Financial Services License (AFSL 478 937), so we are ideally positioned to advise you on a variety of financial matters.