Super Guide for your 20s 30s and 40s

If you are under the age of 50, you are subject to a lower contributions cap when making concessional (before-tax) contributions. In addition, anyone under the age of 50 cannot access super benefits except in limited special circumstances, such as, suffering severe financial hardship or permanent disability.

Set out below are all SuperGuide articles explaining Super Guide for your 20s 30s and 40s.

Financial freedom: Retirement planning in six steps

How much money do you need in retirement to live a lifestyle free of everyday money worries? For many Australians, this means a lifestyle where you can pay your bills without financial stress, you can enjoy an occasional holiday (or many!), you can maintain your car and house, and you can buy gifts … [Read more...]

Do you fit the latest profile of a ‘typical’ SMSF trustee?

Note: We regularly update this article with the latest data on self-managed superannuation funds (SMSFs) issued by the Australian Taxation Office. This article contains the latest data available as at March 2016 (for data up to December 2015).The latest ATO statistics on SMSFs (representing SMSF … [Read more...]

How is contributions tax deducted from salary sacrifice super contributions?

Q: If I choose to salary sacrifice some of my income into my super account, is the 15% taxed separately on the salary sacrificed super, and then another 15% on amount my employer contributed, or are the two added together then the 15% tax deducted?The contributions tax is generally deducted by … [Read more...]

Superannuation rates and thresholds for 2015/2016 year (and earlier years)

Note: This article lists the latest superannuation rates and thresholds for the 2015/2016 year, and for the 2014/2015 year, and also for earlier financial years.One of the most searched-for superannuation thresholds is the concessional contributions cap for the latest financial year. For the … [Read more...]

Super alert: Have you counted your super contributions lately?

Note: This article outlines the super contribution rules, and also provides a list of helpful articles that explain how the two types of contributions caps work, and the general contribution rules.You can make two types of super contributions: concessional (before-tax) contributions and … [Read more...]

Excess contributions tax: The most ridiculous super policy ever?

Note: This article outlines the disastrous outcomes that can result when a tax policy is not properly considered, and not properly implemented. The excess contributions rules are now a lot fairer than in the past, and a lot fairer than what is discussed in this article. For the latest excess … [Read more...]

Excess contributions: What happens if I receive an ATO assessment?

The type of assessment and documents that the ATO sends you will depend on whether you exceed your concessional (before-tax) contributions cap, or whether you exceed your non-concessional (after-tax) contributions cap.Continue reading to discover what you can expect after receiving an ATO … [Read more...]