Saturday, March 04, 2006

Who Should Save For Superannuation?



Who can contribute to super?

If you are in the workforce and aged under 70, you are entitled to contribute to a superannuation fund. There are also other circumstances under which you can contribute:
If you have worked for at least 10 hours a week for the past two years.
If you are on parental leave and were in a super fund before this leave and have been out of the workforce for less than seven years.
If you have had to stop work because of physical or mental ill health.
If you are a non-working or low-income (less than $13,800pa) spouse, your partner can contribute up to $3,000 a year to your super fund.
If you are in receipt of the Baby Bonus.
People aged over 70 who are employed full time (more than 30 hours per week) can now make personal contributions (contributions made out of after tax income).


By crownhomeloan.com.au

http://www.crownhomeloan.com.au/superannuation.php