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Salary Sacrifice is when you have your employer pay part of your before-tax salary into your super.

Topping up your superannuation with salary sacrifice contributions rewards you with extra money in the future, but also provides tax savings right now!

Salary Sacrifice potentially lowers your taxable income* and depending on your income level, employer and workplace agreement, you can begin to Salary Sacrifice at any age.

You can Salary Sacrifice in 3 easy steps:

1. Talk to your payroll manager about the process of making Salary Sacrifice contributions.
2. Check if Salary Sacrifice will impact on other benefits you receive, like overtime and leave loading.  It is a good idea to seek professional advice at this point. Club Super offers members Financial Planning  advice through Money Solutions - to speak to a Money Coach today, simply call us on 1300 369 330.
3. Decide how much you want to Salary Sacrifice and notify your employer.

*Income is defined as assessable income plus reportable fringe benefits plus, from 1/07/2009, reportable employer superannuation contributions (RESC).  RESC is generally superannuation contributions which you have asked your employer to make as salary sacrifice (before tax) or additional employer contributions (in addition to Superannuation Guarantee or award contributions) paid on your behalf as part of a remuneration package.  Consult your employer to identify the likely RESC for the financial year.