While a superannuation guarantees a specific benefit once the employee qualifies, other traditional retirement vehicles may not. For example, a defined benefit superannuation is not affected by individual investment choices, but U.S. retirement plans such as401(k)s andIndividual Retirement Accounts (IR...
How to calculate superannuation Super is calculated by multiplying your gross salary and wages by 11.5%; this is known as the superannuation guarantee. Super is based on your Ordinary Time Earnings (OTE). Overtime and expenses are excluded but some bonuses and allowances are included. For exampl...
The numbers are different because they are calculated at different times for different purposes. The income tax expense recorded in our Financial Statements reflects the impact on our financial position at the end of the financial year. It is designed to give ...