Do this in your Superannuation to Reduce Tax!

Most Australians think of superannuation as something to worry about decades from now. But what many people don’t realize is that super can also be one of the most powerful tax planning tools available today. In this video, Molly from Above Advisory explains a completely legal tax strategy that could help reduce your taxable income and potentially save thousands during the financial year. By understanding how concessional contributions work and how super is taxed at just 15%, you may be able to move money from a higher-tax environment into a lower-tax one while still building long-term wealth. You’ll also learn: • The difference between concessional and non-concessional contributions • How super contributions can reduce your taxable income • How salary sacrifice works for employees • Why this strategy is powerful for business owners, freelancers, and investors • How the carry-forward rule can allow larger contributions in high-income years If you want practical tax strategies explained clearly to help you reduce tax and grow wealth, make sure to subscribe for more insights. ⏱️ Timestamps: 00:00 – The Superannuation Tax Hack Most Australians Ignore 00:45 -- What Superannuation Actually Is 01:21 – The Two Types of Super Contributions: Concessional vs non-concessional contributions 02:21 – Example: Saving tax with a $20,000 contribution 03:44 – Strategy for sole traders & business owners 04:23 – Strategy for employees: Salary sacrifice explained 04:59 – The carry-forward contribution rule 05:42 – Important rules and contribution caps 06:15 – Key takeaway: Using super as a tax strategy 💡 Disclaimer: This content is for general educational purposes only and does not constitute financial or tax advice. Always consult with a qualified professional before making financial decisions. #Superannuation #TaxStrategy #AustralianTax #WealthBuilding #TaxPlanning #PersonalFinance #BusinessOwners