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Superannuation and retirement planning information

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Home / How super works

How super works

How super works

Compulsory superannuation has been around since 1992, but there is still a lot of confusion about its purpose and how it works. The rules around super are also continually being updated and there can be significant penalties if they are breached.

Our super for beginners section is designed to answer all the basic questions you have about superannuation. We also cover the super rules in detail, how super is taxed and when and how you can withdraw your retirement savings.

This section also includes detailed super guides for employers and the latest superannuation news.

Visit the sections below to learn the fundamentals about superannuation

Super for beginners

Super for beginners

Super rules

Super rules

Super contributions

Super contributions

Super and tax

Super and tax

Employers guide to super

Employers guide to super

Superannuation news

Superannuation news

Accessing super

Accessing super

As a first step, the following are key articles that describe how super works

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Superannuation rule changes from July 2022 (and previous years)

Superannuation rule changes from July 2022 (and previous years)

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In your 50s? The super rules that apply to you

In your 50s? The super rules that apply to you

Superannuation Guarantee (SG) contributions rate and rules

Superannuation Guarantee (SG) contributions rate and rules

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Key superannuation rates and thresholds for 2022–23

Key superannuation rates and thresholds for 2022–23

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What to teach your (big) kids about super

What to teach your (big) kids about super

How superannuation works: Super for beginners guide

How superannuation works: Super for beginners guide

Making superannuation contributions: Super for beginners guide

Making superannuation contributions: Super for beginners guide

When can I access my super? All conditions of release explained

When can I access my super? All conditions of release explained

How to find your lost super

How to find your lost super

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10 hidden perks that make your super account even better

10 hidden perks that make your super account even better

How superannuation is taxed: Super for beginners guide

How superannuation is taxed: Super for beginners guide

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Your tax guide to accessing your super under age 60

Your tax guide to accessing your super under age 60

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Your tax guide to accessing your super over age 60

Your tax guide to accessing your super over age 60

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What super contributions are best for me?

What super contributions are best for me?

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Transfer balance cap for super pensions: How it works

Transfer balance cap for super pensions: How it works

Set out below are the latest articles that relate to how super works.

PremiumSalary sacrifice and super: How does it work?

Salary sacrifice and super: How does it work?

July 1, 2022

Forgoing some of your salary into your super through a salary sacrifice arrangement can have valuable tax benefits and help boost your retirement nest egg.

PremiumSuperannuation rule changes from July 2022 (and previous years)

Superannuation rule changes from July 2022 (and previous years)

July 1, 2022

Navigating your way around the constant rule changes in the super system is tricky, so here’s our annual list of the modifications you need to know about.

PremiumContribution splitting: How to boost your spouse’s super

Contribution splitting: How to boost your spouse’s super

July 1, 2022

Splitting your super with your spouse or partner can be a great way to boost your joint retirement savings and possibly save yourself some tax as well.

PremiumIn your 70s? The super rules that apply to you

In your 70s? The super rules that apply to you

July 1, 2022

If you’re still adding to your retirement savings in your 70s, it’s important to know the super rules, as making contributions becomes tougher after age 75.

PremiumGuide to the superannuation work test

Guide to the superannuation work test

July 1, 2022

The rules for making super contributions after age 67 have been relaxed substantially, but you must still meet a work test for one type of contribution.

PremiumIn your 50s? The super rules that apply to you

In your 50s? The super rules that apply to you

July 1, 2022

When you reach your 50s, it’s time to get serious about your super, so here’s the key super rules for your age group.

PremiumIn your teens? The super rules that apply to you

In your teens? The super rules that apply to you

July 1, 2022

Your first job can be exciting, but it’s important to remember your weekly pay could come with super contributions, so here’s the rules applying in your teens.]

In your 20s, 30s or 40s? The super rules that apply to you

In your 20s, 30s or 40s? The super rules that apply to you

July 1, 2022

In the early years of your career, there’s a lot competing for your hard-earned dollars. But your super is important too, so here’s the lowdown.

PremiumIn your 60s? The super rules that apply to you

In your 60s? The super rules that apply to you

July 1, 2022

When you reach your 60s, the rules around making contributions and withdrawals from super start to change, so it’s important to know what’s what.

PremiumHow the First Home Super Saver Scheme (FHSSS) works

How the First Home Super Saver Scheme (FHSSS) works

July 1, 2022

The government’s First Home Super Saver Scheme (FHSSS) can be a handy tool when you are looking to save for your first home. But it’s not for everyone.

PremiumDownsizer super contributions: What you need to know

Downsizer super contributions: What you need to know

July 1, 2022

Downsizing and putting the proceeds into super can be a great way to boost your retirement savings without having to meet many of the rules affecting other super contributions.

PremiumA super guide to the bring-forward rule

A super guide to the bring-forward rule

July 1, 2022

Using the bring-forward rule is a great way to put a larger contribution into your super account in a single year. Here’s what you need to know about the rules.

Income tax calculator (2021-22 and 2022-23)

Income tax calculator (2021-22 and 2022-23)

July 1, 2022

Our income tax calculator will show you what offsets you may be eligible for, as well as your marginal tax rate and how much income tax you effectively pay.

Superannuation Guarantee (SG) contributions rate and rules

Superannuation Guarantee (SG) contributions rate and rules

July 1, 2022

With Super Guarantee (SG) contribution rates changing again, it pays to understand the rules and the rate your employer is required to pay in 2022-23.

PremiumConcessional super contributions guide (2022–23)

Concessional super contributions guide (2022–23)

July 1, 2022

Concessional contributions make up most of the money going into your super account, so it’s important to understand what these are and how they work.

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