News
13 July 2007
Use the tax cuts to boost your super
New tax rates came into effect on 1 July 2007, which mean a lot of working Australians will benefit by receiving extra money in their pay packets.
Rather than spending that extra money, why not consider using it to help boost your super either by making salary sacrifice or after-tax contributions.
Did you know an extra $100 per month into super can increase your nest egg by almost $60,000* in 30 years.
If your salary is under $58,000 and you make a $1,000 post–tax contribution, the government could kick in a further $1,500!
With the new changes to superannuation, which make super tax-free after age 60**, there’s never been a better time to think about putting more into super.
Read more about salary sacrifice and co-contributions by clicking here.
*Based on 6.25% investment return and 3% inflation
**When received from a taxed fund like Vision Super
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