Salary Sacrifice

Salary Sacrifice
Is salary sacrifice worth it on my wage. Australian related question.?

I work casual and earn about $25,000.00 gross per year. I work for a non-for profit organisation (hospital). I make personal contributions after tax to my super fund to take advantage of the co-contribution scheme. I am considering sacrificing the maximum amount allowed into my mortgage account and then using it’s redraw facility to transfer cash to my everyday account as I need it (this transfer attracts no extra charges). Is this a wise choice or should I be doing something different with my sacrifice options. Should I be bothering at all.

I agree with the two above in relation to Super contribution. Yes yes yes we at work also push this all the time to the clients, especially our financial planners (yes, of course they work on trailing commissions…). Me myself, and the financial planners themselves, personally, at the moment we stay away from putting more money in Super. By the time we reach 65, who knows what the rule will be… If you are closer to the retirement age, yes maybe you want to consider it. If I were 50+ and I know I’d be retiring soon-ish, I’d all gung ho on super.

I would definitely go for my mortgage if I had the option. If I were you.