What is superannuation?


What is superannuation?

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09-Sep-2010 12:00 PM

Mr Tax

Posts: 13

Superannuation is a compulsory retirement saving that is paid by your employer. It is compulsory for employers to pay a minimum of 9.5% of your wages in superannuation if

you are over 18, and

-earn more than $450 a month from that employer.


It does not matter if you are working as permanent or casual, or if your resident or non-resident for tax purposes. Your employer, must pay superannuation for you if you meet the above criteria.


The superannuation paid by your employer is taxed at 15% by the ATO

Super Refund Australia
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The Average Australian Tax Refund is $2600


Need Tax Information

Australian money

Tax for working holiday makers.
It is a complete myth that you will automatically get all your tax back when you leave Australia! There is a lot of confusion out there amongst, not only working holiday backpackers but also amongst many employers and even some accountants and tax agents.

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Need a visa for Australia
WHV's can ONLY be applied for; before arriving in Australia. Working Holiday Visa's* can only be granted before you arrive in Australia. For details about applying visit Australia's official website here (www.immi.gov.au) or visit a Travel Agent or an Australian Embassy or Consulate in the country you are in.

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If your monthly wage is more than $A450, your employer must contribute an additional sum equal to 9.5% of your wage into a superannuation (pension) account for you. If you entered Australia on an eligible temporary resident visa you can, in most cases, access your contributions when you leave Australia, although the contributions will be taxed.

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