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Salary Sacrifice

Salary sacrifice is a contribution method that not only allows you to save for your retirement but it may also be tax effective.

How does it work?

You agree with your employer to reduce your salary. This salary, which you have ‘sacrificed’, is contributed to your superannuation as a pre-tax contribution. The contribution is taxed at 15% on entry to Local Super (this is equivalent to the lowest marginal rate of tax). Salary sacrifice contributions are also known as concessional contributions.

By implementing this arrangement you reduce your taxable income and in turn you may reduce the amount of tax you pay on your overall income.

Caps apply to the amount of concessional contributions that are taxed at the rate of 15%.

For further information on Salary Sacrifice please read the Contribution Options fact sheet.

The issuer of any interest in Local Super is Local Super Pty Ltd, ABN 39 131 286 792 AFSL 329336 as trustee for Local Super ABN 92 930 911 098. The information provided in this website does not take into account your personal objectives, financial situation or needs. It is important to consider the relevant Product Disclosure Statement, relevant fact sheets and your own personal objectives, financial situation and needs before making any decision.