The salary you sacrifice will reap super dividends for you and more quickly so if you are nearing 60 or already over it, reports Noel Whittaker for “The Observer”.
The superannuation concessional cap has been raised from $25,000 a year to $35,000 a year. So what does it mean in practice? You know that your employer is expected to put 9.25% of your yearly salary into your superannuation fund.
For somebody earning $100,000 a year, this amounts to only $9,250 so additionally that employee can now put $25,750 instead of $15,750 (which would have been the case had the concessional cap remained at $25,000) into his super.
While the salary he sacrifices definitely reduces his ‘take home’ (short-term loss) but the boost his superannuation fund gets outweighs the loss in “take home’ as well as the taxes he needs to pay on the contribution.
In this regard, Transition to Retirement (TTR) pensions can also come handy.
You can read the original article here.
Getting a nice home for oneself is like completing a major part of the happiness ‘Jigsaw’. But the nicety and persevering beauty of your home will depend upon how you follow these home buying tips.
It is a bank’s job to lend money but it is also their job to hold the sanctity of the prime lending institution. Banks fulfil both these requirements to the tee- they never shy away from forwarding home loans but at the same time conduct their own home valuations to judge the strength of the collateral. This brings us to a crux question? What standards of property valuation do banks use or in other words how do banks value properties?
