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Voluntary Superannuation Contributions and Your Taxes
Superannuation is a government sponsored instrument to help Australians save money for retirement. The technicalities may be tricky, but the workings are simple enough for anyone to understand and utilize to build up a solid retirement fund. This can help ease retirees into non-working status with a reliable income. As with any monetary instrument, it [...]
Superannuation for the Unemployed
If you’re between jobs, it doesn’t mean you have to forgo super contributions altogether. Here are some tips on super contributions when you’re unemployed.
The “Stronger Super” Package
If you’ve often found yourself confused or disappointed by your superannuation options, take heart: the Stronger Super reform package introduced by Parliament in 2011 is enacting a series of changes.
What Type of Superannuation Fund Do You Want?
There are several main types of super funds in Australia but some are only open to employees in specific job roles or industries, which can make your research a lot easier when it comes to choosing a super fund.
The Superannuation Guarantee: Protecting Your Future
Follow along for information about the superannuation guarantee, which forms the backbone of the typical Australian’s retirement plan.
Temporary Residents: Getting Your Superannuation Money Out
Workers who are in Australia temporarily will of course want to know how they can access the money in their superannuation account. While the setup in Australia might not be what you’re used to, there are some simple steps to get you on your way.
Contributing to Your Partner’s Superannuation Fund
If your spouse or partner is a housewife or stay-at-home dad, or works part-time, and you’re not contributing to your partner’s superannuation fund, then you may be missing out on a great opportunity to seed your family’s finances for retirement, not to mention tax breaks that can ease your tax burden.
Government Superannuation Co-Contributions
In a bid to encourage more Australians to make voluntary super contributions to boost retirement savings, the government will match your personal superannuation contributions (either partially or fully) if you’re earning less than $61,920 – up to a maximum of $1,000.
Savings Accounts and Term Deposits for Retirement
Your superannuation fund will typically be your primary source of retirement income. However, if you choose to add other income sources to your overall retirement plan, you may have more financial freedom and flexibility later in life.
How Does Superannuation Work?
If you want to be fully prepared for your retirement, it makes sense to start as early in life as possible. Likewise, it’s difficult to prepare without knowing what your financial situation is likely to be during your retirement.
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