I know tax isn't everybody's favourite subject. But if you want to know how to get the most out of your superannuation, there are some facts you should know.
Tax Fact #1
Employers must pay 9.5% of your salary into super every year until you retire.
Tax Fact #2
Money put into super (concessional contributions) are taxed at 15%.
Tax Fact #3
Returns on your super are taxed at 15% too.
Tax Fact #4
If your money was outside of super, you would be taxed at your marginal income tax rate (up to 45%).
Low tax makes superannuation a smart investment
Low tax and forced contributions make super the best investment choice you never had to make. The tax savings alone can mean a difference of up to 30%. It would be a brave fund manager would promise investment returns like that!
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General advice disclaimer
This is general information only and does not take into account your personal objectives, financial situation or needs. You should assess whether the information is appropriate for you having regard to your objectives, financial situation and needs and consider obtaining independent professional advice before making an investment decision. If information relates to a specific financial product you should obtain a copy of the product disclosure statement for that product and consider that statement before make a decision whether to acquire the product.