Note: This article explains the Superannuation Guarantee rate. If you’re seeking information on other superannuation rates and thresholds see SuperGuide article Super rates and thresholds for the 2012/2013 year. In the 2013 Federal Budget papers, the planned increase in Superannuation … [Read more...]
For the 2012/2013 year, only one concessional (before-tax) contributions cap exists for all ages, and that cap is $25,000. Before July 2012, we had a concessional cap for under-50s and a concessional cap for those 50 years and over. From the 2013/2014 year, we will have a special concessional cap … [Read more...]
Note: STOP PRESS – see related SuperGuide article 2013 Federal Election: new super changes summary (April 2013) for additional federal government superannuation announcements. SuperGuide will keep you regularly updated on the superannuation policies announced by the major political parties, … [Read more...]
Next month’s federal budget will hit the generous superannuation tax breaks received by the very richest Australians. The target will be the highest one to two per cent of earners, with the government arguing that the cutback is necessary to keep superannuation concessions sustainable over the … [Read more...]
When we first launched SuperGuide just over 4 years ago, I wrote an article explaining why tax-free super in retirement is a non-issue for most women. The reason for making this statement, and which remains valid 4 years later, was that women, on average, have such low super account balances that … [Read more...]
Q: I was an Australian citizen, age 37, and had been part of a super fund from about 1993/4. I left Australia in 2001. I see from your 12 legal reasons to cash your super article that I may be able to access my restricted benefit. You write: “Cease employment and have certain pre-1999 super … [Read more...]
Four years ago, in January 2009, we launched the SuperGuide website, and since that time we have received thousands of questions, from our millions of visitors, on different aspects of superannuation. We try to represent as many questions as possible in the articles we publish, while also ensuring … [Read more...]
If you believe the federal government’s public relations campaign, MySuper will deliver the equivalent of nirvana in superannuation – low fees, strong investment performance, financial security and a worry-free retirement. Pardon? You haven’t seen the government’s MySuper publicity … [Read more...]
Note: This article is the second in a series of special articles that SuperGuide will be publishing, designed to help SuperGuide readers more easily access the hundreds of questions and articles that we have published on the SuperGuide website. The first article in the series is Super Checklist: … [Read more...]
Question: Your site says: “By starting a TRIP, you don’t have to retire to withdraw your super benefits. You can work part-time or full-time or even casually.” But on the TRIP form I have from my super fund it says I have to be permanently retired or be working part time. Which is correct? I … [Read more...]
Note: Since the concessional contributions cap was halved to $25,000 for over-50s (announced in May 2012, and effective from July 2012), anyone using the popular transition-to-retirement pension/salary sacrifice strategy, or considering using such a strategy, will need to review this strategy, … [Read more...]
Note: Since the concessional contributions cap was halved to $25,000 for over-50s (announced in May 2012, and effective from July 2012), anyone using the popular transition-to-retirement pension/salary sacrifice strategy, or considering using such a strategy, will need to review this strategy, … [Read more...]
This updated article is a must-read if you make contributions to a super fund, in addition to your employer’s compulsory Superannuation Guarantee contributions. If you have a salary sacrifice arrangement in place then you will need to check how much, and when, these additional concessional … [Read more...]
Salary sacrificing, by making before-tax superannuation contributions, is a popular strategy for employees on middle-to-high incomes. The deal is that you increase your superannuation balance (and pay 15% contributions tax) while reducing the amount of income tax payable (up to 46.5%) on your salary … [Read more...]
SuperGuide receives hundreds of questions every week from Australians wanting to create a better life for themselves in retirement. The types of questions we receive include: how much super should my employer contribute each year, how much money is enough, how can I work out if I am in a good super … [Read more...]
