Changes make it clear that super is the best option
Fri Feb 2 2007
The Age --- Page: B8 : 2 February 2007 Original article by Max Newnham
ABIX Summary
Superannuation is the best way to produce retirement income. Under the Australian Government's new simple super regime the minimum allocated pension is four per cent of the total fund. There is no maximum. If most of a super fund is made up of exempt undeducted super contributions there will be very little tax to pay. Allocated pensions provide more flexibility than complying pensions. From 1 July 2007 self-employed people will be able to claim tax-deductible super contributions until they are 75.
