Question 1

How much can I contribute to super?

Accepted Answer

The concessional (pre-tax) contribution cap is $30,000 per year, which includes your employer's SG contributions. The non-concessional (after-tax) cap is $120,000. If your total super balance is under $500,000, you may be able to carry forward unused cap space from up to 5 previous years.

Question 2

Is salary sacrificing into super worth it?

Accepted Answer

For most people in the 30%+ tax bracket, yes. You pay 15% contributions tax inside super instead of 30-45% income tax. On $10,000 sacrificed at a 30% marginal rate, you save $1,500 in tax. The trade-off is you can't access the money until preservation age (60).

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