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 provides a wholistic SMSF assistance, education and administration service continuum - 1. “assistance” is help of whatsoever nature where our overall SMSF experience and knowledge enables us to provide assistance/help without any legal (or “license”) limitations. 2. “education” involves providing knowledge through teaching, coaching and mentoring about all matters SMSF, including (but not limited to) investment issues such as equities and property, 3. “administration” encompasses all admin aspects of legally required SMSF trustee and member record keeping including (but not limited to) audit and ATO matters. In keeping with our key point that SuperBenefit does not provide Financial Advice, where issues arise from 1, 2, and/or 3 above Indicate a need for a legally authorized provider (such as a Financial Adviser) and the client does not have their own service provider, the client can utilize SuperBenefit’s ‘Connect Assist’ … SuperBenefit, in itself, does not provide Financial Advice, but it does provide the wherewithal for great SMSF service. WE do not provide Financial Advice or any other service that requires a legally authorized provider. However, where such advice or service is required we have our ‘Connect Assist’, a SuperBenefit resource we use to connect clients to a Licensed Advisor or other legally authorised service provider. Call us 0407 361 596, no obligation FREE Connection call to see how we can help you!
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