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Super Contributions

Super Contributions

Super is money set aside over your lifetime to provide for your retirement. For most people, super contributions begin when an individual starts to work and his/her employer starts paying their super contributions. The payments made to their respective super funds are known as super guarantee contributions. In other words, it is also termed as concessional contributions.

Super funds invest your money in an array of things, like shares, property and managed funds. Complying super funds receive more favorable tax treatment than individuals and companies.

Many government agencies play a role in administering and regulating the super system. The Australian Taxation Office which is also abbreviated as ATO is one of them. Most people are entitled for compulsory super contributions from their employer. The super contributions should be a minimum of 9.5% of earnings as revised from July 1st, 2014. You would have the option of choosing your Super fund and would also be able to check your Super fund contributions to your chosen super fund over a particular period of time.

You can boost your super contributions by making additional super contributions. Contributing additional super contribution is also referred as Salary Sacrifice. It is a common way of encouraging savings and high tax returns. Salary packaging through IPS gives you the advantage of boosting your pockets by minimum hassle-free paperwork and transparent communication.

You can enrich yourselves to know more about our free salary packaging services by visiting our website (The services generating tax for employer are excluded)

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