“Salary sacrificing” is when you redirect a portion of your salary or wage to your super. By ‘sacrificing’ some of your before-tax salary and putting it into your super fund, you get taxed at the special rate of 15%. That’s why it’s also known as ‘concessional contributions’ because there are tax concessions with these types of contributions. This suits higher income earners due to their higher marginal tax rate.

Most people can contribute up to $25,000, including your employer’s 9.5%.