Is there a limit on how much super guarantee is compulsory? Yes there is, but it only applies to if you earn more than $260,280 per year. For the 2024 – 2025 financial year, the maximum super guarantee contribution that an employer must pay is increased to 11.5% of $260,280 per ye...
For individuals earning less than $58,445 per year, the government may match personal contributions to the super fund. As the table below shows, the 2023/24 government co-contribution criteria are based on your earnings and individual superannuation contribution: 6. Insurance coverage Protect your ...
The ultimate aim for Slack Investor is to fund your own retirement, but in reality, according to the Association of Superannuation Funds of Australia (ASFA) estimates,a minority (43% ) of Australians of retirement age would be self-funded by 2023– this percentage should increase as the compu...