Put your tax return in to superBY DARREN SNYDER | FRIDAY, 21 AUG 2015 11:25AMAn industry superannuation fund suggests young Australians might want to rethink how they best spend tax returns by considering an additional contribution to their super. Related News |
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It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean writes.
This article implies an average 30 year old has spare cash.
I would have thought the average 30 year old is looking at raising children and paying off a mortgage.
The lack of certainty on retirement access rules on both method of payment and age of access for a 30 year old means many would not even consider the option of adding it to super.
While we all agree frittering it away on consumption is a waste of the money, the lack of access to the money when living expenses are nearing their peak mean most 30 yo's would just ignore this suggestion on denigrate it.
A better suggestion is to use it to pay off a chunk of the mortgage while rates are low or towards a home deposit.
The poorly advertised and now defunct First Home Owners Savers Accounts are sorely missed.