Most employees in Australia, whether full time, part time, casual, Permanent of Temporary resident, are entitled to compulsory superannuation (super) contributions from their employers.
This was brought in by the Labor government, (who held power between 11th July 1987 and 2nd March 1996), … Read the rest
Under Australian legislation, your employer must generally pay 10.5% on top of your salary into a super fund.
This means that your base salary is before Super.
It is also before tax.
So, if you earn $76,700 as a base wage, your employer must pay an extra $8,053.50 into your … Read the rest
Super is a contribution on top of your salary and wages.
A quoted salary or wage, must be just that, your salary or wage, and you should expect Super to be in addition to that, at the rate specified by law. This rate can change by law.
An employer is … Read the rest
From 1st July 2021 most employers will increase their contribution to their employees compulsory superannuation from 9.5% to 10%.
This is an extra $5 per week for someone on $1,000 per week, going into their retirement fund.
However, not all employees are happy with that money going into their super … Read the rest
If you have been financially affected by COVID-19, you may be able to access some of your superannuation early.
If you have NOT been financially affected by COVID-19, you are NOT eligible for a penalty free withdrawal.
You need to check the eligibility criteria carefully before you apply for COVID-19 … Read the rest
Most employees in Australia, whether full time, part time, casual, Permanent of Temporary resident, are entitled to compulsory superannuation (super) contributions from their employers.
This was brought in by the Labor government, (who held power between 11th July 1987 and 2nd March … Read the rest
