Superannuation is a tax-effective means of saving for retirement. Generally, your employer will be required to make compulsory contributions to your superannuation account, determined by your wage and statutory limits and rates.
The benefits of superannuation include:
- a tax deduction can be claimed for certain superannuation contributions
- earnings received from investments within superannuation receive tax concessions
- tax-effective income streams can be received in retirement
There are various types of superannuation funds, including ‘industry’ superannuation funds, ‘retail’ superannuation funds, ‘corporate’ superannuation funds and ‘Self Managed Superannuation Funds (SMSFs).
Here are some blog articles that I have written in relation to superannuation: