Superannuation Tax Advice

When does my employer need to contribute super?

Your employer must pay super for you if you are eligible. To be eligible you must be:

• Aged 18 years or over but under 70 years of age, and
• Paid at least $450 (before tax) in a calendar month.

What are the types of super contribution?

Super contribution can be concessional (which is normally done by your employer) and non-concessional (your personal super contribution).

How the super contribution is taxed?

Concessional contributions are taxed in the Superfund at a rate of 15% and non-concessional contributions are not taxed.

How can I receive the Government co-contribution in my super?

You can be eligible a maximum $1,000 co-contribution for every $1 you contribute to your super. However, you must reduce this by 3.333 cents for every dollar your total income is over the minimum income threshold amount. Eligibility test is complex & you can contact us for free consultation.

When can I start receiving my super?

You can access your super when you reach preservation age (The preservation age is the age you can normally access your benefits and it depends on your date of birth.) and retire, or you turn 65 (even if you have not retired from the workforce).