8 steps to super success
Merely thinking about your super means you’re straddling the first major hurdle that most Australians face when planning (or not) for their retirement and looking into your future. As an employee, you have your employer helping you with your retirement [...]
Help! Where did my employer pay my Superannuation Guarantee contributions?
Q: I was told this was the website to look up all my employer paid super contributions. I’m no good with technology, can’t find it. Am i on the right track?
Upper limit on SG contributions
Q: Can you please advise the 2010/2011 cap on earnings for the maximum superannuation contributions base?
Do I have to be working to make super contributions?
The answer is no if you’re under the age of 65. Anyone under the age of 65 can make super contributions whether they are working, rearing children, looking after a sick partner, recovering from illness or on an extended holiday.
Over-65s work test: How does it operate again?
Q: I am a little confused by the work test requirements. I have two questions…
1. Does 40 hrs in any 30-day period include weekends or is it 6 x 5 day weeks? 2. Is there a maximum that can be worked in any financial year
What is the maximum contribution allowed for $271,000 salary?
Q: I’ve just turned 59, and I’m thinking of retiring before I turn 60. I would like to know whether I would have to pay tax on my superannuation.
Don’t sacrifice your Superannuation Guarantee
Salary sacrificing is a popular strategy for those on middle-to-high incomes who want to increase their super balances while reducing the amount of income tax payable on their salary. Some employees have to watch out that they don’t lose SG entitlements in the process.
What are the super and retirement rules for over-65s?
Q: My wife and I have a small business. I was told by an organisation that at 65 I could put money into super, pay 15% tax on the way in and then draw it out when I wished and pay no tax.
Contributions caps relate to financial years, not calendar years
Q: I understand the three-year bring-forward rule that allows you to contribute up to $450,000 in after-tax contributions. What date does the second three-year period start?
Retirement: Can Australia afford to support your lifestyle?
Are you planning to fund yourself over a 40-year retirement or do you think Australia can afford to finance your retirement?
No tax in retirement because you SATO
The superannuation tax rules are not the only tax benefits that you can take advantage of in retirement. If you are aged 60 or over, your superannuation benefit from a taxed source is not included as part of your assessable income. Most Australians receive super benefits from a taxed source, unless you’re a member of one of the older public sector super funds.
