News.com.au 16th December 2019
Australia’s superannuation retirement savings pool is mammoth. At $2.8 trillion dollars, it ranks as one of the world’s largest. But with its vast footprint comes a profusion of popular myths. Reporter David Wilson of News.com.au interviews Peter Horsfield regarding several myths about Australian superannuation.
MYTH SIX. SUPER IS AN INVESTMENT.
"It’s not" says Certified Financial Planner Peter Horsfield.“ It’s a tax structure,” And a low-tax structure at that, with 15 per cent charged on deposits and earnings during the savings phases and zero tax charged to most retirees.