Salary sacrifice process question

Employer SS can be prone to mistake that you cant address or correct if it ends up as excessive. You need to reliably ascertain your actual projected employer contributions to 30 June then consider what your contributiosn project to using the standard cap and the catch up amounts. Consider bonuses, commissions and other issues like pay rises etc One benefit of not using SS is you can literally Bpay a contribution on 28 June and know you wont blow caps or you can blend the use of SS and also a year end top-up. I have a lot of clients who contribute MORE than the cap but they wait until we deal with the tax return to determine the precise amount that will be deductible. eg Contribute $15K and only claim a deduction for $12,666. The excess is a small non-concessional contribution. This avoids inefficiently paying contributions tax, excess contributions tax and getting it just right.

 

Paul.
Thanks for reply.
I am thinking a mixed approach is the way to go. IE
1. Setup a salary sacrifice for a conservative amount (ensuring I don't contribute to much funds too early, and leaving money available for emergencies).

2. Contribute what works (available cash, tax benefits etc) on June 28.

 

Make sure you submit it before June 23rd for Australian Super
Make After-Tax Super Contributions | AustralianSuper

 

Given that even tax agent extended due dates are earlier than late June, my message is always ensure your return is lodged by the due date even where a refund may be due and that the notice from the fund confirming the deduction is already on hand on the date the return is lodged. The wording of the specific tax law ties the notice to the lodgement date. A notice dated after the lodgement fails and the deduction can be cancelled in the return. That said it can usually be easy to fix that.

Most funds will accept the default ATO notice but some have their own form that must be used. Worth asking to avoid a rejection