Luke on 2CC – Salary Sacrificing and Superannuation

Salary Sacrificing, can it work for you?


Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in The Money Show which aired on Friday 2 July 2021. This week’s topic: Salary Sacrificing – A closer look.  

Luke joins Leon this week via the telephone, given the covid precautions in Canberra. Leon starts the show by expressing how much he dislikes the term ‘salary sacrificing’, because you’re not in actually sacrificing anything, you’re just diverting your salary for something else that will be of benefit. It’s more like diverting money than sacrificing it. 

Key highlights include:

  • What is salary sacrifice?
  • What should you think about before you make the decision to use the salary sacrifice strategy this new financial year?
  • Do you know your concessional contribution cap for salary sacrificing into super this year?
  • How do you work out the ‘concession contribution cap’, remembering I have to take into account employer contributions?
  • What about if you work for the government, does that make things different? 
  • Did you know you can put money into your super without going via your employer and still get a tax deduction?
  • Why would you save money into an offset account if you have a home loan? 
  • What is a notice of intent? 
  • What might you think about before making the decision to  salary sacrifice?
  • Remember that you can change what you salary sacrifice through the year
  • Luke shares his top tips for making the most of salary sacrifice as a super strategy.
  • Everyone has different goals and financial planning advice can help you achieve them more effectively, especially when you link different strategies.

Listen to the Podcast right now


Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’

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Do you need advice around salary sacrificing? 

Salary Sacrificing now may help you later
Saving a little bit now can help you boost your retirement savings for later. If you need help setting super strategies seek advice.

Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals. The legislation and strategy can be complicated but the good news is you can make an appointment to speak with Luke about your specific situation, goals and options. 

Make an appointment to confidentially discuss super, investment, insurance or retirement. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.

Luke will return to talk about financial planning on 2CC next Friday.  You can also catch up with The Strategy Stacker – Luke Talks Money podcast.  We look forward to your company again.

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