Basics About Super – What is Superannuation in Australia?

Basics About Super – What is Superannuation in Australia?

Basics About Super – What is Superannuation in Australia?

Superannuation is a long-term savings program for retirement introduced by the Government to provide income to individuals in their retirement, because we have an ageing population which means more will be non-working than are working, and Government pensions will not be possible in the future.

Mostly your employer contributes money (based on currently 9% of your current wage/salary).

In Australia, superannuation investments receive special tax concessions (a low 15%, and Capital Gains reductions) that aren’t available to other types of investments. This makes super a powerful vehicle to save for retirement.

Your super is likely to be one of your biggest assets in retirement, and the choices you make today can have significant impact on your lifestyle in your retirement.

Since the federal government introduced choice of superannuation fund legislation on 1 July 2005, you have even more options about where your super can be paid (for investing and tax concessions). It must be in a  registered fund to obtain the special concessions.

One form of super – Self-Managed Super Fund (SMSF) may be suitable for some – is it you? Call for a FREE strategy session today and also get your FREE Expert Guide – Self-Managed Super and You – top right hand side above, or CLICK THIS.

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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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