Sentence examples for super accounts from inspiring English sources

People currently enjoy tax-free earnings from super accounts in the retirement phase.

"Non-concessional" contributions are the voluntary contributions people make, from their post-tax income, into their super accounts.

People aged 65 to 74 who satisfy the work test will still be able to make additional contributions to their super accounts.

The reforms will affect roughly 60,000 super account holders with balances in excess of $1.5m.

Still, you've got to make the money and put it aside in your super account, so it's your money.

At the moment, individuals can make non-concessional contributions to their super account up to $180,000 every year, but the government says that $180,000 cap is too generous.

The projected impact at retirement is significantly larger than the initial withdrawal because of the effect of compound interest over the life of the super account.

The government also wants to count the contributions you've already been making to your super account since 1 July 2007, to calculate how much more you can contribute if you haven't already hit the new $500,000 cap.

This would allow individuals with an adjusted taxable income of up to $37,000 to receive a refund into their super account of the tax paid on their concessional contributions, up to a cap of $500.

According to the group's calculations, such a person would retire at 67 years with $140,683 less in their super account in current prices, or would have to work extra years to make up the difference.

At the moment, people aged 56 to 65 who are in the "transition to retirement" and who want to reduce the number of hours they're working, can top up their pay packet by drawing down on their super account, with earnings on super being tax-free.