2018 Fact Sheets

Access useful tools and resources to help you get a better understanding of how financial planning can help you achieve your best life.

2018 Fact Sheets

Contributions splitting

Super contributions splitting generally allows you to split up to 85% of your employer super contributions and personal deductible contributions with your spouse.

What’s in it for me?

  • Earlier access to super benefits and tax concessions if your spouse is older than you.
  • Funding insurance through super for your spouse.
  • Optimise super benefits by utilising two low rate caps for lump sum taxable withdrawals between preservation age and age 60.

WPP Cont Splitting – Download PDF

Government superannuation co-contribution

An Australian Government initiative to help you save more for your retirement.

What is the Government co-contribution?
The co-contribution is a payment the Government makes to your superannuation if you are in the low to middle income thresholds, make voluntary after-tax contributions to your super and satisfy other eligibility criteria.

Generally, income thresholds are indexed each year and the matching rate is up to $0.50 for every $1 you contribute (up to a maximum of $500). This is an incentive for you to contribute to your super.

WPP Govt Super CoCont – Download PDF

Salary Sacrifice

Sacrificing some of your salary into superannuation can be a tax effective way
to boost your savings for retirement.

What is salary sacrifice into superannuation?

Salary sacrifice is an arrangement between you and your employer where you agree to forgo part of your before-tax salary in return for your employer making super contributions of the same value.

What are the benefits?

Salary sacrificing into super may increase the level of your retirement savings and may have the added benefit of reducing the income tax you pay. This is because the ‘sacrificed’ portion goes directly into super and is generally taxed at a maximum rate of 15%1 contributions tax instead of your marginal tax rate.

 

WPP Salary Sacrifice – Download PDF

Personal deductible contributions

Claim a tax deduction for your personal contributions to super
Personal deductible contributions

By making personal contributions to your super, you may be able to claim a tax deduction to reduce your tax liability.

 

What’s in it for me?

  • Pay less tax by reducing your taxable income, while growing your retirement savings quicker.
  • Retirees, self-employed persons and homemakers can build wealth more effectively.
  • Since 1 July 2017, this strategy is more widely available as employees may be eligible to make personal deductible contributions.

 

WPP Personal Deductible – Download PDF

Insurance through super

Purchasing Life Insurance, Income Protection and Total and Permanent Disability (TPD) insurance through super may be tax effective and also provide you with peace of mind.

 

Superannuation tax concessions often make it more tax effective for you to pay for your insurance premiums with your superannuation, rather than purchasing insurance outside of superannuation. Also, as premiums are deducted from your superannuation account, insurance cover does not affect your back pocket. However, it will reduce your superannuation savings, so you should speak with your financial adviser to help decide if this is the right strategy for you.

 

WPP Ins thru Super – Download PDF

Spouse Contributions

Contribute to your spouse’s super to receive a tax offset and build retirement
savings.

 

What are the benefits?

  • You may receive a non-refundable tax offset up to $540 for contributions made on behalf of a low income earning or non-working spouse.
  • Boost the super balance of a spouse who has little or no super and grow your retirement savings as a couple.
  • Accumulate wealth since earnings within super may be taxed at a lower rate than investments outside super.

 

WPP Spouse Contributions – Download PDF