Personal

What is superannuation?
Superannuation is a valuable and tax-effective savings system used by individuals to provide for their retirement. There have been many changes to superannuation in the past few years making it a minefield of legislation and taxation requirements.

What is superannuation? Start early to get maximum benefits from the effects of compound interest


The benefits of investing into Super

  • Earnings are taxed at a maximum of 15%;
  • Earnings and capital gains are tax free when in pension phase;
  • Self Employed personal contributions to superannuation can be tax deductible;
  • Employer and salary sacrifice contributions are taxed at 15% which is generally less than personal marginal tax rates; and
  • Benefits can also be paid tax free to dependants in the event of death and be an effective estate planning investment.
Since your investment in superannuation is a long-term one and designed to provide a benefit for your ultimate retirement, these funds will generally not be accessible until you retire.
 
To help you clarify and answer these and many more questions talk to BCU about organising an obligation-free meeting with a ComCorp financial advisor.