Saving a deposit to buy your first home is a tough task, and purchasing an affordable first home can be an even greater challenge. The First Home Super Saver (FHSS) Scheme developed by the Australian Government is one solution, but it’s not for everyone. To help you get your head around whether the FHSS Scheme is for you, check out our 10-point guide.
From 1 January 2020, your salary sacrificed super contributions can’t be used by your employer to reduce their SG payment obligations, regardless of the amount you elect to salary sacrifice.
Besides being a great way to save for retirement, Australia’s super system offers some valuable – but little-known – benefits for super fund members. Here’s our list of the top 10 super benefits and how they can help improve your financial situation.
As part of ongoing improvements by the ATO, members of most super funds can access additional online information about their super accounts. Find out what information is available and how you can use it to better manage your super savings.
If there’s one thing guaranteed to have employers pulling their hair out, it’s red tape. Unfortunately, your obligation to pay super to employees comes wrapped in red tape and slip-ups can be costly. So what are the rules?
Although it can be difficult getting your head around all the different types of super contributions that go into your super account, concessional contributions are the ones you are mostly likely to have and are pretty straightforward to understand.
For most high income earners, saving for your retirement through super is a sensible strategy, but you need to watch you don’t fall foul of the dreaded Division 293 tax.
The SG rate is 9.5% of your earnings up to a limit called the maximum super contribution base (MSCB). The current MSCB is $54,030 per quarter, which equals a maximum SG contribution of $5,132.85 per quarter.
SuperGuide has put together a list of useful tips and strategies to consider implementing in each decade. And don’t wait until just before retirement. If you do, you will miss out on the valuable benefits of compound interest.
Take the following 10 question quiz to test your knowledge on boosting your super with superannuation contributions.
In this article we cover the major considerations for having personal insurance coverage inside your super fund. We’ll explore pros and cons, types of coverage, financial decisions, regulatory and industry findings, and suggest potential strategies that may suit you.
TTR pensions were originally designed to allow people to reduce working hours in the lead-up to retirement and replace all or some of the pay they lost by drawing an income stream from their superannuation.
Super contributions can be used in many different ways when it comes to planning your finances and saving for your retirement. In the right circumstances, they can also be a very useful tool for minimising your tax bill.
The most common type of contribution regularly going into your super account is likely to be the Superannuation Guarantee – or SG for short – which is the contribution your employer (whether large or small) is required to make into a super fund on your behalf.
This article broadly explains how superannuation is taxed, including when you make contributions, as your super grows, and when you access your super.