Super basics covers the most popular questions on how superannuation works, including how to find lost super, how super works, how much money is enough, and simple step-by-step superannuation guides. Super basics also includes a special section called Super for beginners.
Q: I have a rental property unit I owe approximately $190,000 to the bank and I would like to know if I can invest my $60,000 super into the unit to reduce my payments to the bank?
Superannuation is subject to special access rules called preservation. What this means is that you [...]
Q: I am 53 years old. I do not contribute to super and I have never been a saver. I have just paid off my unit. My question is: I earn only $37,000 a year, so I have never had a highly paid job. Is it too late for me [...]
Q: Hi I am 58 years old. Apparently you can get a lump sum of super before 60 if you have permanently retired. Can you still later look for work again? How do you prove you have permanently retired?
The question that you ask is in the top 10 questions that [...]
This article is a must-read if you make contributions to a super fund, in addition to your employer’s compulsory Superannuation Guarantee contributions.
Hundreds of thousands of Australians who are making a serious effort to save for retirement are expected to receive a financial shock after the financial year ends in [...]
Q: I am 41 years old and my partner is 56 years old. We have a very big mortgage as we are both the casualties of wealth destroying divorces and single parenthood! Thus we intend to pay off our mortgage before putting more into our superannuation which will therefore be after [...]
The self-managed super fund (SMSF) sector is “in pretty good shape” according to Jeremy Cooper, chair of the Super System Review.
Speaking at a SMSF industry (SPAA) conference on 18 February 2010, Cooper stated that, on average, SMSFs have become cheaper to run as SMSF account balances have grown, while still maintaining [...]
If you’re a member of one of the following super funds, then you need to read this article. Astarra Superannuation Plan, Astarra Personal Pension Plan, My Retirement Plan, (including subplans – Seagrims Retirement Plan, TIC Super, and Titanium Retirement Fund), Employers Federation of NSW Superannuation Plan.
Rating company, SuperRatings, expects the balanced options of Australia’s major super funds to deliver an investment return after fees and taxes of between 10% and 12% for the 2009 calendar year. More on this later.
Before I expand on this prediction, I want to explain how the reporting of fund returns works, [...]
If you have more than one super account then you are paying more than one set of fees on your retirement savings. By combining super accounts you can save tens of thousands of dollars in fees over your working life.
If you change jobs regularly or you have had part-time jobs while [...]
Here’s a tip that can potentially save you thousands of dollars. Check that your super fund has your tax file number (TFN).
If you joined a super fund before July 2007, or started your current job before July 2007, then your fund may not have your TFN. Effective from 1 July [...]
By 30 June 2010, a Government-appointed panel will finalise its review of Australia’s superannuation system – warts and all! Before the Review panel delivers this report however, there’s a lot of work to be done.
The panel, appointed in May 2009 (and two extra panel members appointed in August 2009), is overseeing [...]
Q: I have been made redundant and would like to know if any contribution in super is tax deductible while I’m unemployed even if I would find work in the next couple of weeks?
Hi - I'm Trish Power and I am the author of Superannuation For Dummies and many other books on super and investing.And guess what! This site, SuperGuide, is the only INDEPENDENT website for consumers on superannuation in Australia. Read more
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