Super how does it work

We apologise for any inconvenience this may cause and thank you for your understanding. Your super grows in two ways: it grows through the contributions that you make; and it grows through investment earnings. You can read more about your contribution options on our Grow my super page. You can read about your investment options in our Investing Your Super booklet. The investment choices you make will impact on how much super you accumulate before you retire.

To change your investment options, use this form. Your First Super account earns investment income, which is paid into your account as a crediting rate. The crediting rate applied depends on the investment option s you choose and how the investments perform, and can be negative or positive.

Investment options with more growth investments, such as our Shares Plus option, have the potential to offer higher returns. However, they are more likely to produce a negative return than more conservative investment options because they typically include higher risk investments.

You can make this contribution, however based on the information you have entered you may not need to make a super contribution for this employee for this period. We assume that the employee is an Australian resident and has provided a tax file number to their employer. The SG percentage can be manually increased in the calculator. If an employee earns over this amount, the employer is not obligated to make SG contributions for anything above the limit.

This calculator is not intended to be relied upon for the purposes of making a financial decision. You should consider your objectives, financial situation and needs, which are not accounted for in this information, before making any investment or financial decisions.

You are responsible for your own investment decisions and should obtain specific, individual advice from a financial services licensee before making any financial decisions. How superannuation is taxed: Super for beginners guide September 6, Making superannuation contributions: Super for beginners guide September 2, Your tax guide to accessing your super under age 60 September 2, Your tax guide to accessing your super over age 60 September 2, How superannuation works: Super for beginners guide July 28, What super contributions are best for me?

July 13, In your 50s? The super rules that apply to you July 7, To see if you're eligible, and to apply for the DASP online or by downloading the paper application form, visit Temporary residents and super. If you are bringing your own money or pension funds from overseas, there may be special tax rules you need to know about. Speak to your financial adviser or migration agent. If you want to know more about super, visit ato.

If you do not speak English well and want to talk to a tax officer, phone the Translating and Interpreting Service on 13 14 50 for help with your call. Show download pdf controls. Show print controls. Your superannuation basics This is a basic guide about superannuation and covers: What is superannuation?

How do I save super? How is money paid into my super? What if my employer is not paying the correct super? Should I be wary of promoters offering early access to super? How do I choose a super fund?