Super Hero Day – salary sacrifice requirements

It’s a bird, its a plane, its a person planning for their future needs!

Are you employing super heroes (who want to put away a bit extra for their retirement)?
Salary sacrificing wages into super can help employees save faster than a speeding locomotive, but as an employer, you need to make sure you have all the right paperwork.

The ATO outlines the rules:
An effective arrangement
To create an effective salary sacrifice arrangement, you must:

  • Set up the arrangement for employees’ future earnings – It can’t include previously earned or accrued salary, wages or entitlements, annual or long service leave.
  • Document the arrangement
  • Use a complying fund

More info here: ATO salary sacrifice

Wearing your undies on the outside of tights is all well and good, leaping tall buildings in a single bound has OH&S issues, being your own retirement hero is a super idea!

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