Each yearThe Superannuation Handbook is fully revised and updated to reflect the many changes to superannuation rules, the ways you can save for retirement and the best way to eventually access your savings without it costing you thousands in fees. It includes information on the myriad changes that have been recently proposed and come into effect after July 1, including the changes that effect self-managed superannuation funds and small business owners.Comprehensive single-volume reference on all aspects of superannuation, from established expert authorsNow in its sixth year of publicationPublished each year in August so that the latest changes to super, including those announced for the May Federal Budget, are coveredPlain-English, concise explanations and over 100 practical examples to illustrate money-saving, wealth-creating strategiesBarbara Smith won an Order of Australia in 2006 for her contribution to the Australian financial services industry, reinforcing her reputation as a trusted and reputable adviser and commentator

The authors are tax, superannuation and self managed superannuation fund specialists.Barbara Smith AM, CPA (Taxation), CFP, FTIA, MTax, Mbus, Bed, Dip Financial Planning is a leading authority on superannuation and retirement planning in Australia.

Dr. Ed Koken is a PhD, MBA, MMT, MSc, BSc, is an accountant, a registered tax agent and a certified financial planner. Together they run Oasis Wealth www.oasiswealth.com.au

List of abbreviations vii

Preface Understanding superannuation ix

Part I Superannuation issues for everyone

1 Superannuation issues you need to know about 3

2 Who is your superannuation provider? 9

3 Planning for your superannuation needs 21

4 Its never too early to plan for retirement 35

5 Investment basics 45

6 Incentives for low income earners 61

Part II Superannuation issues for employees

7 The superannuation guarantee and employees 77

8 Salary sacrifi ce and superannuation 85

9 Choosing a fund and investment option 93

10 Superannuation contributions and tax issues 105

Part III Superannuation issues for employers

11 Making superannuation contributions for your employees 121

12 Choice of fund the employers perspective 135

Part IV Superannuation issues for the self-employed, investors and higher income earners

13 Contributions for the self-employed and investors 143

14 Capital gains tax small business exemptions and concessions 149

15 Self managed superannuation funds 157

Part V Employer payments on termination of employment and superannuation payments

16 Employer payments on termination of employment 167

Part VI Leaving a job and getting your benefi ts

17 When can superannuation be accessed? 187

18 Superannuation lump sums 195

Part VII Superannuation, retirement and tax strategies

19 Retirement funds 221

20 Strategies to increase superannuation and save tax 249

Part VIII Superannuation issues for couples, singles and women

21 Superannuation issues for couples 263

22 Superannuation issues for women and single people 285

Part IX Superannuation reforms and where to get help

23 Superannuation reforms and changes 293

24 Where to get help 299

Glossary 311

Index 321