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The most popular is 55-year-old executives who start drawing a tax-free pension from their fund, while tipping their salary into it and effectively reducing their taxable income from 46.5 per cent
Read more: http://www.smh.com.au/business/banking-and-finance/tax-leakage-multimillionaires-exploiting-superannuation-20140522-38po9.html#ixzz32QddIlpt
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Hmmm, some people have no idea!
eg, An executive on $250 k p/a will already have a SGC of $23k leaving only $2k to salary sacrifice - barley worth mentioning as a tax minimization strategy.
Can anyone advise how this strategy works?
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Another common strategy is to put money into super to get a tax deduction, then pull the money straight back out tax free.
Read more: http://www.smh.com.au/business/banking-and-finance/tax-leakage-multimillionaires-exploiting-superannuation-20140522-38po9.html#ixzz32Qh12A5w
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I can't see how this possible as an executive (employee)
https://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Claiming-deductions-for-personal-super-contributions/
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- large super balances
large super balances, page-6
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