Superannuation has been designed by the government to provide a tax effective mechanism for Australians to save for their retirement. Contribution may be made by the individual (Non-Concessional) or employer/personal (Concessional).
There are significant tax incentives both in terms of contributions to superannuation and investment earnings on accumulated benefits. These include:
Having your own superannuation fund gives you more control over your retirement savings, as well as offering you a broader range of investments, the potential for better tax outcomes and significant flexibility. They also represent one of the most complex and technical areas of the law with regular and comprehensive legislative changes making it increasingly challenging to keep up-to-date.
Corporate Superannuation funds are pooled investments, which are open to people working for a particular employer or corporation.