We can Salary Sacrifice a percentage of our wages into Superannuation
Which means the amount we add to Super is taken off our gross wage before it is taxed.
Thus, example, Gross wage is $1900, salary sacrifice 15%, - $285, deducted from gross wage equals $1615.
Taxed on $1615, not $1900.
I voluntarily choose this action.
Taxation time, we are allowed to claim a tax deduction for voluntary Superannuation Contributions.
The Taxation Office rules that Salary Sacrificing is not a voluntary contribution because it is administered by my employer and as such is deemed an employer contribution. 馃槧
To claim a voluntary super contribution I must make a payment outside of the Salary Sacrifice regime.
The Taxation Office has ridiculous rules all to the detriment of the worker.
The Parliamentary Minister in Charge of this absurdity will be receiving a "Please Explain" letter from Gusman this week
Thus, example, Gross wage is $1900, salary sacrifice 15%, - $285, deducted from gross wage equals $1615.
Taxed on $1615, not $1900.
I voluntarily choose this action.
Taxation time, we are allowed to claim a tax deduction for voluntary Superannuation Contributions.
The Taxation Office rules that Salary Sacrificing is not a voluntary contribution because it is administered by my employer and as such is deemed an employer contribution. 馃槧
To claim a voluntary super contribution I must make a payment outside of the Salary Sacrifice regime.
The Taxation Office has ridiculous rules all to the detriment of the worker.
The Parliamentary Minister in Charge of this absurdity will be receiving a "Please Explain" letter from Gusman this week
