I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

Treat your super like overtime

And if you assumed to be mounting up this money each week, then you would be doing inquiry regarding the cash your company usually pays for overtime, as well as what you had to do so as to be eligible to overtime, and the date you anticipated to be waged this extra cash.

For instance, say you make $60,000 annually, and you work just less than 4 hours of paid overtime each week for one year. If the overtime amounted to $5,700 per year, you would perhaps be confirming your pay slip to make sure that you got your extra cash.

Or, if you are earning $ 90,000 annually, and you work just less than 4 hours of waged overtime per week, and then you would expect to get $8550 (taxed less) for the time as well as the trouble.

On Employer Contributions

Now, rather than overtime, imagine your required employer contributions, also called Superannuation Guarantee. Your company is obligated to settle the corresponding 9.5% of your ordinary times earnings (OTE) into a superannuation fund, quarterly, at least.

If you are earning $90,000 annually, then $8,550 (less 15% superannuation contributions tax) is being funded into a superfund for you annually, or the comparable to working just less than 4 hours of waged overtime per week.

If you earn $60,000 per year, you are eligible for $5,700 per year in Superannuation Guarantee, that is, the corresponding 9.5% of your OTE. Getting that amount signifies that you get almost the corresponding 52 hours of pay, waged into your super fund every quarter (three months), based on an average 40-hour week.

Another worth of pay for 52 hours is beyond a week's labor, and you merely pay tax on the contributions once it goes into the Superfund. And more, you pay less tax than receiving it as money for overtime.

If you want to make the best out of your super, feel free to consult our experts at www.australiansuperfinder.com.au. Call us at 1300 252 167

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