If you’re under 50 years of age you can contribute up to $30,000 to your superannuation. For those over 50 the limit is raised to $35,000. Under 50 years of age you can contribute up to $30,000.Over 50 the limit is raised to $35,000.
Superannuation contributions can increase your fund with ease. Knowing the super contribution limits helps you minimise taxes. 1  If you’re under 50 years of age you can contribute up to $30,000 to your superannuation. 2  For those over 50 the limit is raised to $35,000. How you contribute to your superannuation fund plays a part in determining the differences in tax benefits. You can choose to contribute before you receive your pay (salary sacrifice) but there is a limit on the amount. This is called the ‘concessional contributions cap.’. If you earn below $37,000 there may be limited advantage in a salary sacrifice arrangement because the tax rate on your salary is only a few percentage points more than the tax on your super contributions. 1 You cannot salary sacrifice bonus or commission payments after they have been earned. 2  There’s a limit of $30,000 a year for those aged under 50 and $35,000 a year for those aged 50 and over for all before-tax contributions. 3  This includes salary sacrifice, Superannuation Guarantee and other employ Case study: Crystal boosts her super by salary sacrificing. Crystal earns $90,000 before tax, excluding her employer's super contribution. If Crystal decides to redirect $10,000 of her pay into salary sacrifice super contributions, she will save $2,400 in tax, with the extra money going into her super fund. If you earn more than $37,000, salary sacrifice can be a good way to grow your super. It involves giving up some of your pay and putting it into your super instead. You will save tax and boost your super. Salary sacrificing is when you ask your employer to redirect a portion of your pay as a contribution to super. 1 If you’re under 50 years of age you can contribute up to $30,000 to your superannuation. 2  For those over 50 the limit is raised to $35,000. 3  Anyone earning less than $37,000 per year qualifies for the Low Income Super Contribution scheme in which the Australian Government will contribute $500 into your account. How you contribute to your superannuation fund plays a part in determining the differences in tax benefits. You can choose to contribute before you receive your pay (salary sacrifice) but there is a limit on the amount. This is called the ‘concessional contributions cap.’. There is a limit on how much you can put into super each year by salary sacrifice. Most people can contribute up to $30,000, including your employer's 9.5% super guarantee contribution. This is called the concessional contributions cap. If you earn more than $37,000, salary sacrifice can be a good way to grow your super. It involves giving up some of your pay and putting it into your super instead. You will save tax and boost your super. Salary sacrificing is when you ask your employer to redirect a portion of your pay as a contribution to super. Salary sacrifice. Salary sacrifice (or salary sacrificing or salary sacrifice arrangement) refers to including before-tax superannuation contributions as part of a salary package, which then reduces a person’s taxable salary and the amount of income tax payable.  1 There’s a limit of $30,000 a year for those aged under 50 and $35,000 a year for those aged 50 and over for all before-tax contributions. 2  This includes salary sacrifice, Superannuation Guarantee and other employer contributions. 1 You cannot salary sacrifice bonus or commission payments after they have been earned. 2  There’s a limit of $30,000 a year for those aged under 50 and $35,000 a year for those aged 50 and over for all before-tax contributions. 3 There is a limit of $30,000 per year that you can pay into super from before-tax salary. This includes any salary sacrifice payments you make and your employer contributions (also known as Superannuation Guarantee payments). All contributions that exceed this limit will be taxed at the highest rate of 49%. Salary Sacrifice to Your Superannuation Fund. An easy way to contribute is through salary sacrifice. Money goes from your employer and straight into your super fund. That money is subtracted from your taxable income, reducing the tax you pay each year. How you contribute to your superannuation fund plays a part in determining the differences in tax benefits. You can choose to contribute before you receive your pay (salary sacrifice) but there is a limit on the amount. This is called the ‘concessional contributions cap.’.
https://www.etax.com.au/superannuation-contribution-limits/ https://www.australiansuper.com/superannuation/adding-to-my-super/make-salary-sacrifice-payment.aspx https://www.moneysmart.gov.au/superannuation-and-retirement/how-super-works/super-contributions/contributing-extra-to-super https://www.etax.com.au/superannuation-contribution-limits/ https://www.moneysmart.gov.au/superannuation-and-retirement/how-super-works/super-contributions/contributing-extra-to-super http://www.superguide.com.au/superannuation-topics/salary-sacrifice https://www.australiansuper.com/superannuation/adding-to-my-super/make-salary-sacrifice-payment.aspx https://m.australiansuper.com/adding-to-your-super/before-tax-limits.aspx https://www.etax.com.au/superannuation-contribution-limits/
australian superannuation salary sacrifice limits