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| Some handy tips to make you
smile. |
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If you can afford to add to your super, consider it. It's surprising how a little extra each
month can add up over time. Even if you think you don't have any extra cash on hand, smile, here
are some tips to find it.
Salary-sacrifice contributions. Click
here
for our instant calculator
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Three super tips to find extra money. It can be painless to
save.
Stop buying a latte
everyday and save over $500 a year!
Take lunch to work
and save $50 per week
Hold a garage sale
and put the money into super.
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Extra contributions through salary sacrifice can be super tax effective and reduce
the amount of tax you pay. Check the arrangements that apply in your workplace. By the way, we
don't charge any extra fees or charges for salary-sacrifice contributions.
Roll over funds from other super accounts
It may be a smart move to consolidate your super, especially when you have switched
jobs. Old super accounts with low balances can really eat into your savings - you may even be
paying double fees. Just ensure that your employer is no longer making contributions to the other
fund and consider any insurance cover you have. While NGS Super does not charge you an entry fee
for transferring your money in, you should also check whether your other fund(s) charge you an exit
fee.
It is very important to consider any insurance cover you have with your old fund, as this
cover will cease when you transfer your super account unless you arrange for your cover to be
transferred prior to closing your account. You can apply to transfer your existing cover to NGS
Super. Please call 1300 133 177 for more information.
Contribute to super on behalf of your spouse
Think about this idea. You can contribute for your spouse or your spouse can make
contributions on your behalf, as long as at least one of you is a current member of NGS Super.
The good news about tax on your contributions
Voluntary after-tax contributions
, rollovers and spouse contributions are not taxed on entry into the Fund. However, all
employer contributions, including salary-sacrifice contributions, are taxed once they are received
by NGS Super.
All taxable contributions are subject to a basic tax rate of 15%.
The Superannuation Surcharge Tax, which previously applied to contributions for taxpayers
with higher taxable incomes, was abolished effective 1 July 2005. However collection for previous
years will continue until processing and reporting of contributions made up to and including 30
June 2005 has been finalised.
If you need to talk to someone, call the NGS Super Help Line on 1300
133 177
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