Category: Superannuation

This article dives into the various investment choices commonly available within super funds in Australia. Understanding Asset Classes Before exploring specific options, let’s break down the fundamental building blocks: asset classes. These represent different categories of investments, each with its own risk-return profile. Here are the main ones you’ll encounter: Pre-mixed options: These are the…

Key Factors for Super Fund Comparison: Comparison Tools and Resources: **Beyond the Numbers: ** While the factors mentioned above provide a strong foundation for comparison, remember to consider the following: Taking Action: Once you’ve shortlisted a few potential super funds, delve deeper by: Conclusion: Comparing superannuation funds requires a thoughtful approach. By understanding the key…

Types of Superannuation Fees There are several fees levied by super funds, each serving a specific purpose. Here’s a breakdown of the most common ones: Impact of Fees on Your Superannuation Balance Superannuation fees, though seemingly small, can significantly impact your long-term savings. Even a seemingly minor difference in fees can compound over decades, leading…

Having multiple superannuation accounts can be a headache. Keeping track of fees, monitoring performance, and rebalancing contributions all become more complex with each additional account. Fortunately, there’s a solution: consolidation. By merging your super into a single account, you can streamline your superannuation management and potentially boost your retirement savings. This article provides a comprehensive…

The Power of Choice: Are You Eligible? The good news is that in Australia, you generally have the power to choose which super fund manages your retirement savings. This applies to various employment categories, including: There are some exceptions, such as employees on temporary work visas. It’s always best to check with your employer or…

Superannuation (super) in Australia offers a unique way to save for retirement while reaping significant tax benefits. By understanding these advantages, you can make informed decisions about contributing to your super and potentially lower your tax bill. Concessional vs Non-concessional Contributions There are two main types of super contributions: concessional and non-concessional. Tax Benefits of…

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…