Explain what is meant by the following terms:

1. Salary sacrificing superannuation payments, and Personal after-tax contributions to a superannuation fund.?

Workers in Australia are able to make extra personal contributions to their superannuation fund account. A worker can agree with their employer for superannuation payments to be made on their behalf by way of 'salary sacrifice'.

Workers can also make their own after-tax contributions to their superannuation fund account.

Answer rating: 100% (QA)

In Australia superannuation refers to the retirement savings scheme where workers contribute a portion of their income into a superannuation fund whic... View the full answer