The beginning of the new financial year is a great time to start thinking about your financial goals. Why not make your super account part of your planning this year?
At Hostplus, we’re committed to helping you grow your super balance so you can achieve the retirement lifestyle you want. There are plenty of simple super boosting strategies that can help you grow your balance. These are some you could put on your new financial year to-do list – some could even help reduce your tax.
Boost your super and save on tax
If you can afford to, putting extra money into your super on top of your employer’s contributions can work wonders for your retirement savings. You might even be able to claim a tax deduction for your contributions.
The easiest way to make a contribution is via BPAY. Log in to Member Online or use the Hostplus app to get your BPAY details.
Receive extra benefits from the government
If you’re a low-to-middle income earner, you could receive extra money from the government just by contributing to your super. If you’re eligible, the government could contribute 50c for every dollar you contribute to super – up to a maximum of $500.
Make a spouse contribution
Contributing to your partner’s super (or vice versa) can be a useful way to boost your combined savings. If you’re eligible, you might also receive a tax rebate up to a maximum of $540.
Set up salary sacrifice
Ask your employer to pay more into your super from your salary. It’s an easy way to grow your super and potentially pay less tax.
Speak to a financial planner
Financial advice isn’t just for later in life. As a Hostplus member you can access personal advice about your investment options, your insurance needs, growing your super balance and more.
- Use our digital SuperAdviser tool to receive simple recommendations that can be easily implemented in your Member Online account.
- Speak to our phone-based advice team, who can help you make small changes today that could make a big difference at retirement.
- Book an appointment with our specialist face-to-face advisers, who can help you create a comprehensive financial planning strategy to set you on the right path for your financial future.
Our focus is keeping your money working hard so you can stay financially fit long after you’ve retired. So, get in touch if we can help you now, for your future.
The information in this article is correct as at time of publication.
This information is general advice only and does not take into account your personal objectives, financial situation or needs. You should consider if this information is appropriate for you in light of your circumstances before acting on it. Please read the relevant Hostplus Product Disclosure Statement before a decision about Hostplus. For a description of the target market, please read the Target Market Determination.