While if you earn between $38,564 and $53,564 the co-contribution amount will vary depending on how much you earn
This is because if you earn $38,564 or less and invest $1,000 as a personal contribution into your super account the government will pay the maximum co-contribution of $500 into your super account. To read more about co-contributions and your eligibility you can visit the ATO’s website at .
If you are with a super fund, such as REST which offers indexed options like Overseas Shares Indexed, which invests in the MSCI world index ex Australia ex tobacco, an index which has returns that are almost identical to VGS , the ETF mentioned above which tracks the MSCI World ex-Australia then you can expect an investment return from your superannuation which is almost identical to the returns you would get from the ETF. Using the average per annum returns of VGS since inception of % at the time of writing () let’s take a look at how a Student Start-up Loan and co-contribution would grow over a 30-year period compounded annually (account fees and expenses have not been taken into account to allow for ease of comparison).
Here we can see that after 10 years our Student Start-up Loan and co-contribution with a total value of $1,594 has grown to over 44 thousand dollars after 30 years compounded annually at %, more than 13 thousand dollars more than the $1,094 Student Start-up Loan would have earnt on its own without investing the money payday loans Kingsport into your superannuation and gaining an extra 500 dollars as a result of the co-contribution.
Firstly, I would recommend educating yourself and finding out how you can easily make rational and safe (although volatile) investments through index funds or ETFs . Below are some of the best books for beginners on the topic of investing.
So if you earn $38,564 or less this means you can make a guaranteed gain of almost 50% within a year by investing your $1,094 Student Start-up Loan into your superfund
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Publicado el 15/3/2022 Categoría Tennessee_Kingsport payday loans.
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