Omniwealth News
You are here: Home \ Blog \ News
Boost your super or reduce the mortgage?
Tuesday, May 30, 2017

Does it make financial sense to boost your super if you're still paying off a non-deductible debt like a home loan?

If you're an average couple on the average tax rate the math is simple.

If $1 of earned income is paid to your personal bank account, the tax man currently collects 39 cents in income tax and Medicare levy. That leave 61 cents in your pocket.

If you were to make concessional contributions to your super via a salary sacrifice arrangement, the tax rate is only 15 per cent on those contributions.


< Back