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50% of Aussies to be self-funded in retirement by 2050


ASFA said the report noted that with the superannuation guarantee (SG) rising to 12% and more workers contributing to super for longer, the median super balanced at retirement would increase from $125,000 to over $460000 by 2060.
ASFA chief executive, Dr Martin Fahy, said: With more Australian retirees having higher super balances, the proportion of retirees reliant on the Age Pension will decline and ASFA expects half of all Australians to be self-funded in their retirement by 2050.
Our strong superannuation system will allow Australia to lower the burden of the Age Pension from the current 2.7% of GDP to 2.1% in 2060-61 making it the lowest among our OECD peers.” ....

Martin Fahy , Association Of Superannuation Funds Australia , Superannuation Funds , Intergenerational Report , Age Pension , மார்டின் பஹி , சங்கம் ஆஃப் சுப்பெறன்ணுஅதிோன் நிதி ஆஸ்திரேலியா , சுப்பெறன்ணுஅதிோன் நிதி , இடைநிலை அறிக்கை , வாழ்நாள் ஓய்வூதியம் ,

The last-minute things you can claim on tax before the 2020-21 financial year ends June 30, 2021


Australians working from home during lockdown can still buy some office items at the last minute and claim them back on tax.
The 2020-21 financial year ends on June 30, which means professionals have only two business days left to visit an Officeworks or stationery supplies store.
More than 10million Australians earning up to $126,000 are already in line to receive between $255 and $1,080 in tax cuts.
With a bit of good time management, they can get even more money back, provided receipts are kept and purchases are made before shops close tomorrow. 
Those who try to get too clever, however, can face a nasty tax office audit, especially those working from home who think they can claim personal rent, car and internet costs. ....

Western Australia , New South Wales , Australian Capital Territory , Mark Chapman , Australian Taxation Office , Hr Block , Workers Union , Melbourne Officeworks , Transport Workers Union , George Street , Intergenerational Report , Josh Frydenberg , மேற்கு ஆஸ்திரேலியா , புதியது தெற்கு வேல்ஸ் , ஆஸ்திரேலிய மூலதனம் பிரதேசம் , குறி சாப்மேன் , ஆஸ்திரேலிய வரிவிதிப்பு அலுவலகம் , மணி தொகுதி , தொழிலாளர்கள் தொழிற்சங்கம் , போக்குவரத்து தொழிலாளர்கள் தொழிற்சங்கம் , ஜார்ஜ் தெரு , இடைநிலை அறிக்கை ,