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.

Superannuation Guarantee: What is the maximum SG employers must pay?

Q: I am earning a salary of $200,000 plus super. I am aged 42. I understand a maximum contribution level applies based on a 9.5% SG contribution, before the balance up to $30K limit can be made on a salary sacrifice basis. Can you please confirm what the maximum SG contribution is allowed to be for … [Read more...]

Superannuation tax refund: 10 things you should know

NOTE: The Low Income Super Contribution for low-income earners is available until the 2016/2017 financial year (until 30 June 2017). Originally, the Coalition government planned to repeal the LISC after one year of operation, that is, it was expected to only apply for the 2012/2013 year. Due to … [Read more...]

Upper limit on SG contributions (for 2015/2016 year, and for previous years)

Note: This article explains the maximum superannuation contribution base for the 2015/2016 year, for the 2014/2015 year, and for previous years.The maximum superannuation contribution base is used to determine the maximum Superannuation Guarantee (SG) contribution that an employer is required to … [Read more...]

Life insurance: One in five parents will die early, or be too sick to work

On average, Australians enjoy long lives but the flipside of that equation is that some people die young, and many of those who die young are parents.One in five parents will become too sick or injured to work, or will die before retirement age, according to a disturbing report released during … [Read more...]

Life insurance and super: 10 things you should know

One of the better deals in superannuation has only a slight connection to your life in retirement. Life insurance cover within super funds rarely makes the headlines but for many Australians they are getting cost-effective cover from their super funds.Life insurance is insurance that pays out in … [Read more...]

Does Trish Power offer personal financial planning advice?

Q: I have met many financial planners including 3 independent ones, but they don’t seem to know much and all said different things. They don’t seem to show interest and care for my retirement. I am a 61 year-old female and have no super. I need to do something fast. I am just a piano teacher and … [Read more...]

Super for Beginners (25 Q&As)

One of SuperGuide’s more popular initiatives has been the development of a ‘Super for Beginners’ section that answers some of the many questions that we receive from those readers who are new to superannuation and new to super’s terminology.The series currently consists of several lead articles, … [Read more...]

Super for beginners, part 25: Is super worthwhile if I’m earning less than $37,000?

Q: Great site! Lots of excellent information. I now work part-time, earning just under $37,000, and wondered whether I should bother with super. I am pretty sure I will get the Age Pension, and based on my income I reckon I would be better to save outside super and pay less tax, rather than have my … [Read more...]

Super for beginners, part 22: How do you speak ‘superannuation’ (… in 20 words)?

Many Australians find the stodgy language of superannuation confusing. The terminology associated with superannuation is a barrier to self-education and may deter some Australians from taking early steps to plan for retirement. Millions of Australians care about their super account even though they … [Read more...]

Know your super limits: Reducing CGT via concessional contributions

Q: I am one of those people (and my wife) who made the decision years ago to invest in property rather than super. Now at 60, (wife 55) I am retired and live off my property investments. I would like to get rid of the properties at about age 65. Mainly because of the worry, and maintenance upkeep, … [Read more...]