5 reasons to save for retirement Saving for retirement might not seem important, especially when there’s the super guarantee and aged pension to fall back on. But employer contributions and government benefits may not keep you as comfortable in later life as you’d like. Here are 5 reasons to make saving for your super a priority in the coming year. Whether you’re near retirement or not, it’s important to get your head round what to …
New legislation aims to benefit first home buyers and downsizers Changes aimed at improving housing affordability have passed through parliament. See what the new rules could mean for you. Government proposals around improving housing affordability in Australia were passed through parliament on 7 December 2017.i As part of the changes, first home buyers will be given a tax concession through the ability to save for a home deposit inside super, while Australians aged 65 and …
The virtue of (salary) sacrifice When you make a sacrifice, you’re usually giving something up with the expectation of future gain. Salary sacrificing into your super is no different—you’re giving up ready access to your money in your take-home pay. But in return you’re boosting your retirement savings and saving on tax. You can pay extra cash into your super from your pre-tax salary at the concessional 15% rate of tax1 —up to a limit …
How do transition to retirement strategies work? A transition to retirement strategy could allow you to work less, or work the same hours and increase your superannuation, without reducing your take-home pay. Even if you’re nearing retirement age you mightn’t be looking to leave the workforce just yet. Maybe you want to save more money or perhaps you enjoy the interaction and mental stimulation. Whatever the reason, a transition to retirement (TTR) strategy could provide …
Five super terms that should be on your radar Confused by industry jargon? We help you make sense of it all… We want to empower you to take control of your finances and own your tomorrow. But we know it’s not always easy. The language of finance can be complex and confusing. Here we explain superannuation terms in everyday language. Superannuation guarantee (SG) The payments your employer makes into your super. All Australian employers …
