Why is choosing the best super fund important? Superannuation is on average the second biggest asset a family has! The longer you don’t think about superannuation, the longer you will have a poor retirement! Fix it now and read things to consider when comparing superannuation from fees, features, investments and insurance.
Working out how much is needed to retire can sometimes be difficult as retirement may be many years away. Planning for retirement early can make achieve goals easier. There are a number of tools that can assist working out how much may be needed in retirement including the AFSA Retirement Standard.
From July 1st 2012 there is an increased contributions tax for high income earners, increasing the superannuation contributions tax from 15% to 30%. This will result in a a greater proportion of contributions being paid as tax and reduces the concessions available. Individuals who incur a capital gain in a financial year may also be affected.
Contributing into superannuation is easy enough, however the way you make your contribution is important – ‘pre-tax’ or ‘post-tax’ contributions are dealt with differently and have different taxes applied! Want to know the difference and how to maximise your retirement dollar? Read on!