Amy and Phil Shingler have recently moved to Western

Amy and Phil Shingler have recently moved to Western Australia from Victoria because Amy has recently started a new job as an Covid 19 Vaccination Centre manager. Fortunately, the new job has seen Amy’s salary increase to $139,500 (Plus SGC)

Phil, on the other hand, decided to walk away from his cabinetry business in Victoria to support Amy’s new opportunity. Phil has been able to find work at Bunnings earning a salary of $34,000 (Plus SGC)

Phil is 49 years old and has $28,000 in Superannuation. Amy is 59 years old and has $154,000 in Superannuation.

They want to retire when Amy is 65 years old.

They require at least $100,000 after tax for living expenses.

Each of their Superannuation is invested in Aware Superannuation Super which they would like to retain. Their Risk profile is Growth. (assumed future rate of return before tax and after fees of 8.1%). Salaries provided above are before tax has been paid.

They come to you looking for Financial Advice.

Q Including calculations, the advantages and disadvantages of Salary Sacrificing. Including a specific recommendation for them.