Latest News

Hot Issues
spacer
Salary sacrifice and your super
spacer
5 Clauses Tenants Should Look For When Reviewing a Lease
spacer
ASIC continues crackdown on dodgy directors
spacer
Vehicle association calls for stricter definitions with luxury car tax changes
spacer
Government to push ahead with GIC deduction changes
spacer
Exploring compassionate early release of super
spacer
Have you considered spouse contribution splitting?
spacer
Best Selling BOOKS of all Time
spacer
GST fraudsters to face ‘full force of the law’: ATO
spacer
Social media scams dominate losses in 2024
spacer
Managing your business’s tax debts
spacer
Warning on ATO data matching “lifestyle” assets and your business
spacer
ATO issues alert on guarantee arrangements and Division 7A
spacer
E-Commerce Laws You Must Know To Run An Online Business
spacer
Resources and Tools to help our Clients build their future
spacer
Most Powerful Economies in Europe | 1960-2024
spacer
ATO reveals small business hit list to combat tax debt
spacer
What are the FBT implications of Employee Christmas Parties and Gifts?
spacer
Assess a business before you buy it
spacer
Christmas Parties and Taxi Fare/Rideshare – FBT implications.
spacer
Practitioners cautioned on ATO’s top target areas for GST
spacer
ATO to target growing businesses in latest compliance blitz
spacer
Our SG compliance results are here
spacer
Top 20 Most Watched Christmas Movies ever - pre covid
spacer
A Unique Advent Calendar
spacer
Businesses ghosting the ATO targeted in debt collection blitz
spacer
Claiming the tax-free threshold: getting it right
spacer
Aussies tired of ‘dodgy tax criminals’, warns ATO
spacer
Protect your small business by following these essential steps.
spacer
Super guarantee a focus area for ATO business debt collection
spacer
Controversial ‘Airbnb tax’ set to become law
spacer
Withholding for foreign residents: an ATO focus area
spacer
1 in 3 crypto owners confused about tax, study reveals
Article archive
spacer
Quarter 4 October - December 2024
spacer
Quarter 3 July - September 2024
spacer
Quarter 2 April - June 2024
spacer
Quarter 1 January - March 2024
spacer
Quarter 4 October - December 2023
spacer
Quarter 3 July - September 2023
spacer
Quarter 2 April - June 2023
spacer
Quarter 1 January - March 2023
spacer
Quarter 4 October - December 2022
Quarter 2 of, 2024 archive
spacer
Tax Time Checklists - Individuals; Company; Trust; Partnership; and Super Funds
spacer
Compare your business
spacer
2024 Year End Tax Planning Guide (Part 2)
spacer
ATO to crack down on rental income, WFH deductions this tax time
spacer
How to Draft a Standard Form Contract
spacer
GST, PAYG withholding a ‘significant portion’ of $50bn tax debt
spacer
ATO changes will make it harder for over 42,000 small businesses.
spacer
The Deadliest pandemics in History
spacer
Budget breakdown – Federal Government Analysis
spacer
Winners & Losers
spacer
Federal Budget 2024
spacer
2024 Year End Tax Planning Guide (Part 1)
spacer
Medicare levy surcharge OR basic health insurance ?
spacer
ATO warns of ‘serious penalties’ for unlawful tax scheme promoters
spacer
ACCC scam report
spacer
Employees taking more sick days - and it's getting worse
spacer
Foreign residents selling property in Australia
spacer
How much does negative gearing really cost – an overview and an opinion?
spacer
The Shortest-reigning Monarchs in History
spacer
FBT Reminder – Odometer Reading
spacer
ATO’s debts on hold campaign prompts new IGTO guidance
spacer
A comprehensive collection of small business benchmarks
spacer
The 2025 Financial Year tax & super changes you need to know!
spacer
Underperforming employees: When can you terminate?
spacer
A comprehensive list of guides to industry specific tax deductions.
spacer
‘Renewed concerns’ about economy sees consumer sentiment dip: Westpac
spacer
Oldest Buildings in the World.
spacer
Vimeo test
Salary sacrifice and your super

An important consideration in building your super balance is to salary sacrifice your earnings to make additional contributions to your super.

.

Your employer can make additional super contributions by salary sacrificing your part of your earnings. This are treated as concessional contributions, taxed at 15% in the superannuation fund. However, this is compared to your marginal income tax rates if this was not sacrificed.

Potential benefits for the regular salary sacrificed superannuation payments include an acceleration of growth of your super balance (which would  make a big difference at retirement) and this will lower your taxable income and may help you pay less tax, stay in a lower tax bracket, reduce the Medicare Levy or qualify you for certain concessions, etc

 

 

 

Acctweb

Liability limited by a Scheme approved under Professional Standards Legislation.
© O'Brien and Partners 2024 - All Rights Reserved | 333 Canterbury Road, Canterbury VIC 3126 | Tel: 03 9509 3911 Site by Acctweb