Superannuation TMFS icon

Consolidate your superannuation.

There is over $14 billion in lost superannuation funds within Australia. We can assist in making sure all your superannuation is consolidated and you are in control.

We can select a fund based on your needs. For example, we can provide ongoing investment management of your superannuation or alternatively you may prefer a simple low-cost option.

Strategies to maximise your superannuation

Superannuation still remains the most tax effective savings plan available. There are various strategies available including accessing the government co-contribution scheme, salary sacrifices, making contributions for your spouse and superannuation splitting.

We explain in plain English the approach you should take and if desired we can provide ongoing advice to make sure you stay on the right track and take advantage of appropriate opportunities.


The Situation

John (61) and Sally (60) are seeking advice on getting ready for retirement as they have recently paid off their mortgage.

Previously they were making $20,000 p.a. in mortgage payments and want to know how they can now use these surplus funds to help save for retirement.

John works full time earning $80,000 p.a. and Sally works part time earning $25,000 p.a.

The Advice

After discussing their situation and goals with an adviser, John and Sally agreed to seek personal financial advice in relation to superannuation and maximising their savings for retirement.

Through evaluating various strategy options and based of their personal scenario, the most appropriate super contributions strategies for John and Sally were:

  • John to make salary sacrifice contributions of $17,000 p.a. to super (from pre-tax employment income). As when combined with his 9.5% employment super guarantee of $7,600 this will remain under his $25,000 concessional contribution cap. Concessional contributions are taxed at 15% in super which is lower than John’s marginal tax rate of 32.5% (plus Medicare levy).
  • Sally to make salary sacrifice contributions of $3,000 p.a. to super (from pre-tax employment income). This will reduce Sally’s income to be close to the tax-free threshold. The 15% tax within super is still lower than Sally’s marginal tax rate of 19% (plus Medicare levy)
  • Sally to make $1,000 of personal (post tax) contributions p.a. to qualify for the government co-contribution benefit of $500.
  • Make a $3,000 spouse contribution to Sally’s super to qualify John for a spouse tax offset of $540.

Benefits of Advice

The total value of the benefits relating to super contribution strategy in the first year is worth $4,830:

  • $6,790 savings in income tax (from combined income tax of $19,025 to $12,235)
  • Less $3,000 super contribution tax (15% of $20,000 salary sacrifice)
  • $540 spouse tax offset
  • $500 co-contribution benefit

Your next step? Call us now to secure your appointment and start your journey to Financial freedom -Locations and contact details can be found at the bottom of this page.