Question
How much would James get paid for superannuation and how much would he be eligible to salary sacrifice into super in the 21/22 ($27,500 cap)
How much would James get paid for superannuation and how much would he be eligible to salary sacrifice into super in the 21/22 ($27,500 cap) financial year assuming he had total concessional contributions of $10,000 in the 2019/20 ($25,000 cap) and 2020/21 ($25,000 cap) Financial Years in Australia?
Read the following to assist you with your answer:
https://www.ato.gov.au/Individuals/Super/In-detail/Growing-your-super/Super-contributions---too-much-can-mean-extra-tax/?page=2
James'salary is $160,000 per annum.
10% superannuation since 01.07.2021.
Step by Step Solution
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Step: 1
Answer 1 Concessional contributions Concessional contributions are generally taxed at 15 in the supe...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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