Molly is 47 and is on a salary of $117,000 + SGC (10%). Calculate how much she can salary sacrifice and the tax benefit of salary-sacrificing up to her concessional contribution cap of $27,500 for the 2022/2023 financial year. She currently has $445,000 in Superannuation.
 
Assuming her salary has not changed since 1 July 2017, and that Molly has $330,000 in cash reserves which she would like to invest in Superannuation, what are her options to contribute to Superannuation and save income tax? Why is it important she does this soon?

Provide calculations to support your answer.