Superannuation should be the preferred savings vehicle for working Australians…in theory.
Contributions and earnings attract a 15% tax rate — that’s lower than the lowest marginal income tax rate.
However, the constant tinkering by successive governments has eroded confidence in superannuation. The continual changing of the rules creates uncertainty.
The future of Australian Superannuation
What are they going to do next? Will I ever even get my money, or will they confiscate it into consolidated revenue?
Compulsory superannuation contributions means that whether you like superannuation or not, you have money in superannuation funds.
As most Australians depend on their super savings to live a comfortable retirement, in Markets & Money we keep a close eye on the rules surrounding superannuation. And we alert readers to any new government meddling attempts in the pipeline.