Superannuation Explained | Superannuation Australia 2020

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What is Superannuation? Superannuation is a complicated topic. In this video we explain superannuation, and how it works. This Superannuation guide is just the first video in our superannuation series.
Our other super videos include:
Superannuation Explained: • Superannuation Explain...
Insurance Explained: • Human Insurance | Insu...
How to read your super statement: • How to read & review y...
How to find your lost super: • LOST SUPER... How to f...
Choosing your super investment: COMING SOON - Subscribe!
Buying property with Super - Self managed super funds explained: COMING SOON - Subscribe!
Buying your first home with Super - FHSS Explained: COMING SOON - Subscribe!
Salary Sacrificing to Super Explained: COMING SOON - Subscribe!
Our website: www.whatifadvice.com.au
Our email: info@whatifadvice.com.au
General Advice & Accuracy warning:
The material shown in this presentation is for general information purposes only. It is not intended to be, nor should it be read as specific personal investment or risk advice.
Whilst all care is taken in the preparation of this material no warranty is given with respect to the information provided, and accordingly no responsibility for errors or omissions, including responsibility to any person by reason of negligence is accepted by What If Advice Pty Ltd, or any member or employee of What If Advice Pty Ltd.
Before acting on any of the information contained in this presentation you should obtain special advice from a specialist investment or risk professional, which is appropriate to your specific investment or risk needs, objectives and financial situation.

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Опубликовано:

24 июл 2024

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Комментарии : 55

@hellopopo315 3 года назад

Really love these and the way you explain everything is extremely easy to understand, so thank you. I'm sure you're helping a lot of grad accountants like me with all this stuff. If you take requests, i'd love to see some videos explaining Div7a, FTB, Trusts, adjusted taxable income, tax profit vs accounting profit, franking credits/unfranked dividends and PSI. I've done a fair bit of research on most of them, just would love to get a simplified take on these concepts. Alternatively, if you have/know any great resources that explain these simply, i'd love to know. Thanks again! You have yourself a new subscriber!

@WhatIfAdvice 3 года назад

Haha thanks, glad you like the videos. My target market is more the 'average Australian' rather than the grad accountant haha ... Some of your requests are in my list of videos to do (FTB, Trusts, franking credits etc)... might be a while before I get to Div7a! Thanks again. Cheers.

@waternarutokh50 3 года назад

Thank you so much!!!

@johnheng1040 3 года назад

How does that apply to temporary residents?

@MrSupernova111 2 года назад

Clear as mud.

@janespindy 2 года назад

my friend have dual citizenship. one times he plan to go back to birth country to retried with all his supermoney. the super said some thing like to give back citizenship. i think not sure. Anyway, he end up not taken super with him. 10years now he still back in other country and wait for he become of aged to received money

@Mitrovich17 4 года назад

Hi, this was very helpfull video!! Just wanted to ask quick question. Is it mandatory to choose investment option so your money gets imvested or you can just let your fund running from those 9.5%?

@WhatIfAdvice 4 года назад

Hey. It isn't mandatory to invest your money. You will have a default option (eg they will probably put you into a 'balanced' option). If you don't want your money invested, you could switch your investment option to 'cash'. You should be able to log in online to your super fund and make your selection there. Hope this helps.

@NoRegertsHere Год назад

The book Barefoot investor plus an author called Ashley Ormond run through super really well and address not only your question but how to do it with written out step by step. They go through everything financial in australia each chapter. You can read any chapter first. But some great ideas

@Corpsecreate 2 года назад

Niche question here. If I do direct share trading and buy the VGS ETF within a super fund (like Member Direct in AustralianSuper) and hold on for 30 years, I'll have a massive unrealised gain. I've deferred the tax by 30 years. When I'm at preservation age, and entering pension phase, can I sell my ETFs and pay zero tax on the now realised gain, effectively wiping out all of the capital gains entirely? How does this tax treatment differ from investing in a Balanced or High Growth option?

@NoRegertsHere Год назад

Yes. After preservation age, your super is tax free. GREAT super investment choice you’re gonna be rolling in it!

@lucaking4041 3 года назад

I have used employer nominated funds since I started working, I'm 21 how do I track it down.

@WhatIfAdvice 3 года назад

Your best bet is to set up a 'MyGov' account. Your superfunds will be attached to your Tax File Number. MyGov in the ATO section will list all your current funds. Note superfunds often only report once a year, so your balance will probably be a little higher than on MyGov.

@alto1955 2 года назад

Good Video thanks, I am 66 years old can I cash my Supperanuation tax free? What would be the setback. Many Thanks in advance.

@tacomasterguy6674 4 года назад

Thanks for uploading this good video. How much tax we pay if you invest super money on stokes?

@WhatIfAdvice 4 года назад

Thanks... TacoMasterGuy - glad you liked it. Tax doesn't change based on your investment. Its based on the Tax Zone. So super is 'upto 15%' in accumulation phase. And 0% when you retire. Hope that helps.

@greggreg8118 4 года назад

Is there a cost for just having a super fund? Isn’t it compulsory?

@WhatIfAdvice 4 года назад

Yes and no... depends on the fund, balance and activity... "low balance active accounts" this will cost you in the ball park of $1-100 per year... "low balance inactive accounts" generally get transferred to the ATO and held at no cost.

@Turbo_Tractors 3 года назад

What’s happened to peoples super since COVID? Has anyone lost?

@WhatIfAdvice 3 года назад

Yeah some did, some didn't - the markets came back up - but a lot of people 'moved to cash' - those people lost a lot of money. Or people who were retired and had to withdraw money...

@angelinavalentin7625 3 года назад

What happens to the super annuation of the person who died due to illness? Thank you for replying, sir.

@WhatIfAdvice 3 года назад

Depends, generally the fund will try and pay it to the members 'estate' - if the person had a 'nomination form' the fund will contact that persion... if they person had a 'binding nomination' if will almost always go directly to that person... Its good to do a lost super search to make sure they didn't have multiple funds - and also check if any of those funds had life insurance ...

@angelinavalentin7625 3 года назад

@@WhatIfAdvice thank you so much, sir/mam🙏godbless

@globalrodicagazii7490 3 года назад

Where are going this money hi pay me if i never get any document or any money ?till now?

@NoRegertsHere Год назад

You can search on the government websites for lost super. Money smart or ATO websites

@lisayuan 4 года назад

Hey does anybody have opinions on Australian Ethical or Future Super?

@mycro2767 3 года назад

They’re great! I’ll send you a video about how they help in the fight against climate change if you want

@lisayuan 3 года назад

@@mycro2767 haha sure; but i've already chosen to go with Australian Ethical :)

@mycro2767 3 года назад

Lisa Yuan ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-HTAzb7UbJ6M.html

@jojoeluna1848 2 года назад

I owed some debt can I withdraw money in my super a total of $50,000 to pay as I now I'm on a hardship?. I'm still working but can't pay this on my owned salary.

@NoRegertsHere Год назад

In Australia, you can see a licensed financial councillor for free. Search for one in the area you live and go from there. For general structure on managing money, there are some books. Barefoot investor by Scott Pape and also books by Ashley Ormond are great. On RU-vid: The Money Guy and Dave Ramsey have good steps and structures for getting out of debt but they are US based, so some terms abd options are different. Good luck

@felixfabian15 3 года назад

How to get superannuation account? Are you allowed to get one if you are 16 years old under?

@YukiAndZeroFTW 2 года назад

I believe you can only be paid superannuation as someone under 18 if you're working 30+ hours a week and earning more than 450 a month? You get one when you start employment, your employer usually offers to sign you up with their recommended super fund if you don't already have one

@yangzinghlan6861 4 года назад

So even if we choose no investment option does the super balance fluctuates ?

@WhatIfAdvice 4 года назад

You have to choose something, however if your fund gives you the options for 'cash' - you would have almost no fluctuations (mostly like the fund fees. However if you are young, an investment choice like cash will help when the market is volatile - however you might miss out on a lot of returns over the next, 10,15,20+ years!

@globalrodicagazii7490 3 года назад

Why from 1996 /97 I get approved for settlement who handle my personal documents illegal used my personal identity without my consent?from Israel?now i am out from israel in Europe but i never get any money who handle this money pretend is ME ?THANK YOU

@johnclifford1537 3 года назад

3.29 - Isn't the access age 60, not 65 ?

@WhatIfAdvice 3 года назад

Hmm couldn't find a reference to age at 3:29.. at about the 6:00 min mark I talk about getting money out... You need to meet a 'condition of release' Preservation age is one, and this can actually be from age 55 - depending on the year you were born. Age 60 is often used as a synonym for 'preservation age'... it also depends on if you're working or not as to how much you can take out.

@johnclifford1537 3 года назад

Are we watching the same video ? From 3.27 " And not being able to touch it until you're 65 may not sound that appealing".

@WhatIfAdvice 3 года назад

@@johnclifford1537 Sorry missed that line... I guess I should have said.. 'until you meet a condition of release'... it was in the context of contributions, and at 'young people'... so age 65 probably is more accurate, as super laws will no doubt change along the way.. For people a little older, current conditions of release covered later in the video.....

@HKspurs10 4 года назад

USA needs to implement this!

@lewisemptage5924 4 года назад

You're an idiot.

@HKspurs10 4 года назад

@@lewisemptage5924 why?

@Jaredscott89 4 года назад

Why? Its an incredibly expensive system that costs more than it actually saves in aged pension.

@davidjohnston7512 3 года назад

The USA needs to implement just about everything from other countries.America is really a shit hole.Honestly it is.It is the ONLY first world country that doesn’t have universal health care.They probably don’t even know what it is.The average American is completely brainwashed about how great they are.

@NoRegertsHere Год назад

They have ROTH IRA and 401k See The Money Guy on RU-vid or Dave Ramsey