SMSF Basics – Superannuation in Australia – an Overview

Superannuation in Australia – an OverviewSuper is a long term savings arrangement in preparation for retirement, part of the government’s plan to ensure adequate retirement income.

Employers, self-employed, employees and family members (on behalf of others) contribute to a super fund.

Contributions can be made to either of 3 types of fund accounts (you have choice of fund):

  • Independent Large Super Funds – retail, industry, bank and financial institutions (APRA – Australian Prudential Regulatory Authority)
  • Retirement Savings Accounts (RSA) banks, institutions (rare)
  • Self Managed Super Fund (SMSF) you manage it (ATO – Australian Tax Office)

Self Managed Superannuation Funds are also known as:

  • SMSF’s
  • DIY Funds

About SuperBenefitnews

Self-Managed Superannuation Service Providers in Australia. SuperBenefit will SET UP your SMSF and provide investment education for a better result. We take care of all your administration, accounting, ATO lodgement and audit of SMSFs, working with you and your advisors. If you want advice we can arrange one of our recommended advisors and accountants to meet with you, as we do not give advice, but take instruction only. Take control of your super, including property shares and other assets. Learn how to be your own advisor - make better decisions - by being mentored and coached to invest your own super wisely and strategically by qualified partners. Book to come to an event to find out more, or - Call us 0407 361 596, no obligation FREE strategy call.
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