Salary Sacrifice
Sacrificing some of your pay into your super account will not only lower your tax bill when June rolls around, but will grow your super much faster and is one of the best ways to boost your super balance
You can add to your super balance by making before-tax contributions with salary sacrifice or by claiming a tax deduction for personal super contributions. These are known as concessional contributions.
It’s a great way to boost your super balance and pay less tax. Concessional contributions make sense if your normal income tax rate is higher than 15%.
If you would like to salary sacrifice, simply tell your HR or payroll department how much you’d like to add to your super from each pay. For information about claiming a tax deduction for personal super contributions, call us on 1800 517 212 or read our Contributions Factsheet.
Read the Government limits on super contributions section to understand limits that apply.
Low Income Superannuation Tax Offset (LISTO)
Is your income less than $37,000 a year? The Government may pay up to $500 per financial year into your super if you also add some before-tax contributions.
You don’t even have to apply for it; the Australian Taxation Office (ATO) will automatically deposit the Government’s contribution straight into your super account.
For more information, read our Government Contributions fact sheet.
| Income* | Tax rate on before-tax contributions |
| Under $250,000 | 15% |
| $250,000 and more | 30% |
For more information about our making contributions, read the:
*Income is the sum of your annual taxable income, reportable fringe benefits, total net investment loss and any before tax (concessional) contributions you’ve made to your super.
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Important Information
The issuer of this product is Mercer Superannuation (Australia) Limited. Mercer Superannuation (Australia) Limited has authorised Kogan Superannuation Pty Ltd to provide financial product advice that is general advice in relation to Kogan Super. A Product Disclosure Statement is available for Kogan Super by clicking here. The information above does not take into account your personal objectives, financial situation or needs. Prior to deciding whether to acquire an interest in Kogan Super, you need to take into account your own financial circumstances, consider the Product Disclosure Statement, Guides and factsheets section.
The issuer of this product is Mercer Superannuation (Australia) Limited. Mercer Superannuation (Australia) Limited has authorised Kogan Superannuation Pty Ltd to provide financial product advice that is general advice in relation to Kogan Super. A Product Disclosure Statement is available for Kogan Super by clicking here. The information above does not take into account your personal objectives, financial situation or needs. Prior to deciding whether to acquire an interest in Kogan Super, you need to take into account your own financial circumstances, consider the Product Disclosure Statement, Guides and factsheets section.