The most commonly discussed form of this strategy involves the establishment of a concessionally taxed income stream using your superannuation to allow additional salary sacrifice. The aim is to use these tax concessions to reduce the amount of tax you pay whilst boosting your retirement savings.
We can formulate variations of this strategy by incorporating contributions from your spouse and using income from other investments to boost superannuation contributions. A thorough review of your current position will reveal which options are best for you.
We can provide a detailed analysis of the impact of any changes to your employment on your long-term retirement goals.
With superannuation providing such significant tax benefits it can sometimes be beneficial to prioritise superannuation contributions over debt reduction. We can then formulate a plan for repayment of debt using your accumulated superannuation, without jeopardising your retirement plans.
Transition to Retirement Income Streams allow superannuation members to access their superannuation via a concessionally taxed income