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Staff specialist
Things worth knowing as a staff specialist.
General information only. Nothing on this page is saved.
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The pay jump and lifestyle creep
A higher salary does not arrive as take-home. The creep page holds the old spending against the new wage.
Packaging
The caps are unchanged by the grade. The tax effect is larger because the marginal rate is higher.
Super caps and Division 293
Once income plus concessional contributions crosses $250,000, an extra 15% can apply to the contributions.
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Offset, super, or invest
The next dollar has a different home depending on the rate, the cap, and the tax.
The mortgage
Extra repayments change the term. The sketch shows the original schedule beside them.
Kids and schools
School fees and a child’s investment account are different sums, with different tax.
Often missed
Income-protection premium shock
Cover that was cheap as a registrar is often priced again at consultant age.
Division 296
An extra tax on earnings linked to super above $3 million. Most staff specialists are not there. The threshold is published.
A rough figure — not advice. Terms
Advertisement — labelled, never inside the number.