Anton is 57 years old and works as a counsellor in the Gold Coast earning a salary of $140,000 plus Superannuation Guarantee (SG) of 9.5%. He has no other income or deductions. Anton decides to salary sacrifice $20,000 into his superannuation fund during the current income year.

Based on the above, answer both the following questions. Input your final answer (no workings) in the spaces indicated below.

1. The total amount of tax payable by his superannuation fund on his behalf, in relation to his total contributions (salary sacrifice and SG) would be $.............?
2. In this situation, Anton will exceed his concessional contributions limit. To avoid this, and the associated consequences, the maximum Anton should salary sacrifice into his superannuation fund in the current income year would be $...........?

Answer rating: 100% (QA)

The total amount of tax paid by his superannuation fund on his behal... View the full answer