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To understand just how much you are really paying in superannuation charges, you need to demystify the various methods products and funds explain them. In June 2004 the SIS Act and Regulations were amended to require all superannuation trustees to relate to come what to do if superannuation is not paid be a Registrable Superannuation Entity Licensee (RSE Licensee) furthermore each of the superannuation funds the trustee runs is also called for to be registered.

Besides a few very details stipulations in the Superannuation Industry (Supervision) Act 1993 (mainly pertaining to investments in assets associated with the company or affecting a self-managed superannuation fund) funds are exempt to specific property needs or financial investment policies.

Division 293 tax (added tax on concessional contributions) is payable if revenue for surcharge purposes (besides reportable superannuation contributions), plus concessionally strained superannuation payments (also called low tax payments) are more than $250,000.

The Howard federal government likewise limited employer SG contributions from 1 July 2002 to a worker's normal time profits (OTE), which includes incomes and salaries, along with bonuses, payments, change loading and informal loadings, yet does not include overtime paid.

Special policies use in connection with employers operating" specified benefit" superannuation systems, which are much less common conventional employer funds where advantages are established by a formula typically based upon a staff member's final average salary and length of solution.