The Bulletin --- Page: 55 : 24 April 2007 Original article by Peter Freeman
ABIX Summary
From 1 July 2007, Australians aged 60 and over will be able to retire and take their superannuation tax-free. Those still working will benefit from a tax-minimisation technique called salary sacrifice. A person can direct part of his or her pre-tax salary into the super fund, and this cuts the tax paid on the sacrificed part to just 15%. It is a good way to build wealth. After 1 July, there will be no exit tax on this money, making it an even better option. Not all employers allow their employees to salary sacrifice, so it pays to check with the employer.
