|
Most Australians have superannuation, however many of us still find it very confusing. Why do you need it, and more importantly, will it be enough? Here we provide information and answers to many common superannuation questions.
Most Australians have had superannuation since the 1980s when compulsory employer contributions were introduced. But what is compulsory employer contribution, and will it be enough for you in your retirement? The answer to this question for many of us is NO, but fortunately there are many benefits to contributing extra money to your superannuation yourself.
You can receive a tax deduction for any personal contributions you make during any one financial year up to $5,000. After this amount, the deduction reduces to 75% which is still an excellent tax deduction. Superannuation also gives you many other options that you can take advantage of to increase your retirement income:
- You can contribute on behalf of your spouse
- Salary sacrifice - making contributions from your pay
Book your Free Consultation online today using our simple online Enquiry Form, for more information on Superannuation, or any of our financial services. |
