Transition to Retirement Strategy
If you are over 55 years of age you may be able to boost your super savings whilst saving on your tax bill.
Depending on your circumstances by increasing your super contributions and starting to draw a pension, you can save upwards of $2,000 of tax each year, until you fully retire.
If you currently earn more than $45,000 a year and have more than $100,000 in superannuation this strategy is for you.
By salary sacrificing part of your pay into super you will be reducing your personal income tax. To make sure your net pay in your bank account is the same, the super contribution is replaced by pension drawn from your super fund.
The main benefit of this strategy is that, you are using the low tax rates in superannuation funds of 15% compared to up to 45%.
Contact the Accumul8 team to see your savings.