1 Master Your Super
5 Steps
- Look at your budget and regular expenses and work out how much money you have left each week or month that you could contribute to super.
- Consider whether the low tax rate on savings held within the super system (15% on investment earnings) matters to you.
- Ask yourself if there is a chance you’ll need money in the next few years, as super contributions generally can’t be accessed until retirement.
- Consider whether extra contribution money could be better used elsewhere, such as to pay off your mortgage or reduce other debts.
- Decide whether your contributions should be from before-tax or after-tax money – a concessional or non-concessional contribution, or a combination of both.