Superannuation Calculator

To understand how much you are actually paying in superannuation costs, you have to debunk the various ways items and funds explain them. In June 2004 the SIS Act and Rules were changed to call for all superannuation trustees to apply to become a Registrable Superannuation Entity Licensee (RSE Licensee) in addition each of the superannuation funds the trustee runs is also called for to be signed up.

Also taking more current estimates from the Australian Prudential Policy Authority (APRA) based upon information aware super fees comparison funds report to the regulatory authority-- which does not count all charges and costs-- we are estimated to invest concerning $19.3 billion.

Division 293 tax obligation (extra tax obligation on concessional payments) is payable if income for additional charge functions (apart from reportable superannuation payments), plus concessionally tired superannuation payments (additionally called low tax payments) are above $250,000.

The PC record ended that costs can have a substantial impact on participants-- for instance, an increase in costs of just 0.5% can cost a typical full time employee about 12% of their balance (or $100,000) by the time they reach retirement".

Unique regulations use in relation to companies running" defined benefit" superannuation plans, which are less typical typical employer funds where advantages are established by a formula typically based upon an employee's last average salary and size of solution.