Oops Captcha

To comprehend how much you are truly paying in superannuation costs, you have to demystify the various ways products and funds define them. In June 2004 the SIS Act and Rules were changed to require all superannuation trustees to apply to come to be a Registrable Superannuation Entity Licensee (RSE Licensee) in addition each of the superannuation funds the trustee operates is also required to be registered.

Even taking extra recent price quotes from the Australian Prudential Regulation Authority (APRA) based upon data extremely funds report to the regulator-- which does not count all charges and sunsuper fees comparison-- we are estimated to spend about $19.3 billion.

Department 293 tax (additional tax obligation on concessional payments) is payable if revenue for surcharge objectives (apart from reportable superannuation payments), plus concessionally strained superannuation payments (also called low tax payments) are above $250,000.

The Howard government also restricted company SG payments from 1 July 2002 to a staff member's regular time incomes (OTE), that includes salaries and wages, along with incentives, payments, shift loading and laid-back loadings, but does not include overtime paid.

Unique guidelines apply in connection with employers operating" specified advantage" superannuation systems, which are much less typical conventional employer funds where advantages are identified by a formula generally based upon a staff member's final ordinary wage and size of service.