Author: Recruitment Super

Salary sacrificing into superannuation is a tax-effective strategy for Australians to grow their retirement savings. It involves diverting a portion of your pre-tax salary directly into your super fund, reducing your take-home pay but potentially offering significant tax benefits. Let’s delve into the mechanics of salary sacrificing and explore its advantages and considerations. The Mechanics…

This article delves into the two main types of super contributions: concessional and non-concessional. Concessional Contributions: Tax-Advantaged Growth Concessional contributions are made from your pre-tax income. This means the money is deducted from your salary before income tax is applied. There are two main ways to make concessional contributions: Tax Benefits of Concessional Contributions: Important…

Superannuation (super) is Australia’s compulsory retirement savings scheme. While employers contribute a minimum percentage of your salary towards your super, proactively contributing extra can significantly improve your retirement nest egg. This article explores various strategies to increase your super contributions and secure a comfortable future. Understanding Contribution Types: There are two main categories of additional…

There are Two Main Types of Super Contributions Super contributions come in two flavors: concessional and non-concessional. Understanding the difference is crucial: Concessional Contribution Limit The concessional contribution limit is the maximum amount of concessional contributions you can make to your super in a financial year (July 1st to June 30th). This limit applies to…

Superannuation, often shortened to super, is a nest egg Australians build throughout their working lives. It’s a compulsory contribution system where employers set aside a portion of your salary into a super fund for your retirement. But accessing this accumulated wealth isn’t as simple as opening a piggy bank. Here’s where the concept of preservation…

Superannuation is designed to be a long-term investment that supports you financially during retirement. However, there are some limited circumstances where you may be eligible to access your superannuation early. This article explores the eligibility criteria for early access to super in Australia. The Importance of Preservation Age Generally, you cannot access your superannuation until…

Superannuation, or “super” as it’s commonly called, is the cornerstone of Australia’s retirement savings system. Ideally, it sits untouched until you reach your preservation age (between 55 and 67 depending on your birth year) and provides financial security in your golden years. However, life throws curveballs, and sometimes accessing super early might seem like the…

In Australia, superannuation (super) is a nest egg set aside for your retirement. Understanding how much you have accumulated and where it’s invested is crucial for planning your financial future. There are several ways to check your super balance, all relatively simple and convenient. This article will guide you through the process of finding out…

In Australia, superannuation, also known as super, plays a crucial role in planning for your retirement. It’s a mandatory system where employers contribute a portion of your salary towards a designated super fund. This fund accumulates over your working life, providing financial security when you retire. A key element of super is the minimum superannuation…

Superannuation (super) is a vital part of financial planning for Australians, providing an income stream for your retirement years. But with so many factors at play, it’s natural to wonder how much super you actually need. Here’s a comprehensive guide to help you estimate your target super balance and develop a strategy to achieve your…