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Superannuation Funds and Investments - Cantoraccounting

Superannuation funds and investments are something towards which at specific time intervals the employee as well as the employer contributes a certain amount of money. It becomes mandatory for the employers to make contributions towards this fund, for the employees it is a voluntary affair to do so. When the employ attains a specific age a whole lump sum is released to him. The main assets in super funds that can be invested in are bonds, property, cash, shares, and other fixed interest investments. For any further query call up at TELEPHONE: (02) 9411 1134 or https://cantoraccounting.com.au/

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Superannuation Funds and Investments - Cantoraccounting

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  1. Superannuation Funds and Investments cantoraccounting.com.au

  2. Introduction • Superannuation funds and investments are something towards which at specific time intervals the employee as well as the employer contributes a certain amount of money. It becomes mandatory for the employers to make contributions towards this fund, for the employees it is a voluntary affair to do so. When the employ attains a specific age a whole lump sum is released to him. The main assets in super funds that can be invested in are bonds, property, cash, shares, and other fixed interest investments.

  3. Categories • You’re eligible to choose the super fund in case you’re an employee and your employer pays your super guarantee (SG) but you have to be in one of the three categories below. • Under a federal award you’re employed. • You’re even employed under another award or workplace agreement that doesn’t need any type of Superannuation funds and investmentssupport. • Under an award or industrial agreement you’re never employed. This consists of contractors who are primarily paid for their labour.

  4. Potential Options • There are five potential options (though not every option is available to everyone) if you are eligible to choose your super fund. • Retail funds – These are funds that are run by financial institutions. Generally they reopen to anyone. • Industry funds –For people who work in a particular industry these funds are usually designed, but there are few industry funds who will allow anyone to join.

  5. Public sector funds –Usually these funds are only open to government employees. • Corporate funds – These funds are only available for employees who work for a specific employer. • Self-managed super funds (SMSFs) – These are funds where in terms of administration, compliance and investment decisions you have more responsibility.

  6. Advantages • For a Self managed Super Fund there are a number of advantages that can be beneficial to you such as: • • In the utilization of the pension income streams as well as superannuation offers it provides increased flexibility • • In selecting an asset or deciding on an investment provides greater flexibility • • On your investment's portfolio it allows for your absolute management • • Gives you saving in taxes • • If the SISA Act recognizes the asset it gives opportunity to borrow limited resource • • Into the Superannuation funds and investmentsit gives liberty to transfer your shares or securities

  7. Contact Us • For any further query call up at • TELEPHONE: (02) 9411 1134

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