Changing priorities

Life is not a straight path, and every so often our priorities change. But as this happens, you need to assess your situation and feel confident that you could manage financially if any issues arise.

Have you considered growing your retirement savings by salary sacrificing into super?

Salary sacrifice contributions are only taxed at the rate of 15% going into the super fund, compared with your salary, which may be taxed at a higher rate. Find out more by visiting our salary sacrifice page.

If salary sacrifice is not available or suitable, you can make a personal contribution and claim a tax deduction in your personal tax return. There are administrative requirements in making this contribution that must be met before a deduction can be claimed.

Do you have enough insurance?

It is estimated that over 60% of Australians are underinsured*. If anything happened, could you cover the costs of repaying the mortgage, paying bills and meeting medical or funeral expenses? A range of personal insurances are available to you through super and investment products for example life insurance or income protection.

Want to do more?

You may benefit from talking to a financial adviser. If you are not currently advised then click here to find a financial adviser near you who can discuss financial planning and other opportunities that may be available for you.

* Rice Warner August 2007 Group Insurance Newsletter