Mo Money #437 Money Clips - Supercharge your Super
Feb 12, 2025
In this engaging discussion, listeners dive into advanced strategies for superannuation, exploring how small daily investments can greatly impact long-term growth. The conversation highlights unique tax benefits associated with super, demonstrating how investment within this system can lead to significant returns. Key strategies for making effective contributions are shared, including tips to catch up on unused limits and understand the tax implications. Perfect for those looking to maximize their retirement savings!
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Two Stages of Super
- Superannuation has two stages: accumulation and pension.
- The goal is to accumulate as much as possible during the first stage to maximize benefits in the second stage.
Tax Advantages
- Superannuation offers significant tax advantages, including lower tax rates on earnings and capital gains.
- Tax rates within super are considerably lower than personal income tax rates, especially for higher earners.
Concessional Contributions
- Maximize your superannuation by contributing concessional contributions up to the annual limit.
- Claim a tax deduction for these contributions and benefit from lower tax rates inside super.