SUPERANNUATION

Superannuation in Australia is the arrangements put in place by the Government to enable people to accumulate funds to provide them with income in retirement. Superannuation in Australia is partly compulsory, and is further encouraged by the government and supported with tax benefits. The government has set minimum standards for contributions for employees as well as for the management of superannuation funds. It is compulsory for employers to make superannuation contributions for their employees on top of the employees' wages and salaries.
  • SMSF property investment SMSF property investment has gained considerable momentum since the amendment of borrowing provisions to allow for the purchase of residential real estate. The ability to obtain a limited recourse loan to buy income-producing property in a favorably low tax environment, has affected a rapidly emerging incidence of direct property investment within SMSF structures in recent times.
  • Small APRA Funds (SAFs) Small APRA funds are funds established for a small number of individuals (fewer than 5) but unlike SMSFs the Trustee is an Approved Trustee, not the member/s, and the funds are regulated by APRA. This structure is often used for members who want control of their superannuation investments but are unable or unwilling to meet the requirements of Trusteeship of an SMSF.
  • Public Sector Employees Funds Public sector employee’s funds are funds established by governments for their employees.
  • Self Managed Superannuation Funds (SMSFs or Do-It-Yourself Funds) Self Managed Superannuation funds are established for a small number of individuals (limited to 4) and regulated by the Australian Taxation Office.
For more information please click- http://www.cygnusaccountants.com.au/superannuation/


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