When you mention super, most people shake their head and mutter about the constant rule changes. Looking back over the past few years it’s a fair comment, with many significant changes occurring – and many more proposed but never legislated. If you are wondering how those changes have affected your super and ... Read more
Does the ATO do enough on unpaid super?
For many years SuperGuide has regularly received angry emails from readers about their employers not paying their super entitlements and the ATO being unable to help recover the money. Many employees have lost significant amounts of workplace entitlements because their employer has either not paid their SG, or has ... Read more
Three retirement income priorities for the returned Morrison Government
The Morrison Government confronts a big agenda when it comes to retirement incomes. They need to implement the superannuation recommendations of the Hayne Royal Commission and respond to the Productivity Commission inquiry into superannuation costs. And Treasurer Josh Frydenberg hopes to establish an independent review ... Read more
Selecting your super fund: Can I make the choice?
Life is full of choices and the super system is no different. But there is one area where not everybody has a choice and that’s when it comes to selecting the super fund into which their employer directs the Superannuation Guarantee (SG) contributions they make on their behalf. Most Australians – whatever the industry ... Read more
Quiz: Planning for retirement
Take the following 10 question quiz to test your knowledge on how to plan for your retirement. Don't worry if you don’t know the answer to a question. Have a go anyway and we’ll let you know the correct answer, as well as providing you with a link to a relevant article. Note: When you pick an answer the correct ... Read more
$20 billion per year. That’s how much higher superannuation could take from wages
Stagnant wages are a huge issue in this election campaign. So it is odd that both major parties are hanging onto a policy that will take more out of workers’ pockets. ... Read more
Quiz: Boosting your super with super contributions
Take the following 10 question quiz to test your knowledge on boosting your super with superannuation contributions. Don't worry if you don’t know the answer to a question. Have a go anyway and we’ll let you know the correct answer, as well as providing you with a link to a relevant article. Note: When you pick an ... Read more
Superannuation Guarantee rules for employers
The Superannuation Guarantee (SG) is the official term for compulsory super contributions made by Australian employers on behalf of any full-time, part-time or casual employees who: earn more than $450 before tax in a calendar month, work in Australia (including temporary residents and working holiday makers), and are ... Read more
Your simple guide to Superannuation Guarantee (SG) contributions
As employees, most of us see the regular note on our payment summary listing the amount for our employer’s Superannuation Guarantee (SG) contribution into our super account and rarely give it much thought. To help you understand it a little better, here’s SuperGuide’s simple explanation of the SG and what it means for ... Read more
2018/2019 guide to concessional contributions (before-tax super contributions)
Although it can be hard 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. Concessional contributions – what’s that mean? Concessional contributions ... Read more
What to do if your employer doesn’t pay your super
The Superannuation Guarantee (SG) is the name for the contribution your employer makes to your super fund on your behalf. You can learn more about whether you are eligible for the Superannuation Guarantee, and how it is calculated in the SuperGuide article Your simple guide to Superannuation Guarantee (SG) ... Read more
What is the maximum super contribution base for 2018/2019?
The Superannuation Guarantee (SG) is the name for the contribution your employer makes to your super fund on your behalf. The current SG contribution rate is 9.5% of your earnings up to a limit called the maximum super contribution base (MSCB). If you earn above that limit in a particular quarter, your employer is not ... Read more
Guide to the Superannuation Standard Choice Form
The Superannuation Standard Choice Form is an Australian Taxation Office (ATO) document that allows you to choose a super fund that your employer’s contributions will be paid into on your behalf, provided you meet eligibility conditions. Under Australian super legislation, your employer must pay 9.5% of your ordinary ... Read more
Salary sacrifice and super: How does it work?
While the sacrificing bit might sound painful, salary sacrifice is really just about giving up something now to get a financial benefit later on. Often called salary packaging, many employees choose to set up these types of arrangements with their employer to forgo part of their salary or wages to help pay for a range ... Read more
What is MySuper, and which super funds are MySuper funds?
If you are now, or even have been, an employee and can’t remember ever choosing a superannuation fund, chances are you have retirement savings sitting in one or more MySuper accounts. As we’re talking about 9.5% of your income and possibly hundreds of thousands of dollars by the time you retire, it’s worth following ... Read more