Superannuation (super) is money – your money – set aside over your lifetime to provide for your retirement. It is the easiest investment you can make towards your future. You begin to grow your super when you start work and your employer pays money into your super fund. It’s an easy investment for your future! So if you’re starting a new job or looking for work, get job ready by visiting www.ato.gov.au/superyouth
Retirement might seem too far away for you to even worry about, but recent changes to super will help you grow your super savings for the future. This includes a boost of up to $500 for people earning less than $37,000 a year. Find out more about the new Low Income Super Contribution at: www.ato.gov.au/lisc
Follow these few easy steps to get the most out of your super savings:
- Check your super fund has your tax file number (TFN). This’ll make it easier for you to manage your super. You can make personal contributions and stop extra tax that may be taken from your account. It’ll also mean you won’t miss out on any government contributions you could be eligible for. More information is at www.ato.gov.au/tfnsuper
- When you start a new job you can usually ask your new employer to use any super account you want – including one you already have. Find out more at www.ato.gov.au/superchoice
- Check out SuperSeeker. It’s a free, online and secure system where you can see details of your super accounts, find lost super and request a transfer of funds between accounts with one simple online form. See: www.ato.gov.au/superseeker
Consider what you could do in 2013 – take control of your finances and find out more about tax and super.