I'm looking at the australian government website for superannuation(cpf) and planning out my salary package.
I think its quite similar to the contribution singapore that the singapore government has and i think its a good way to not only save money, but to generate some extra cash.
Australian Government puts in an extra $1.50 for every $1 extra you put into your superannuation. Thats alot of free money. But it is capped at $1500. And for every $1 in salary you make above $28,980, they contibute $0.05 less.
So lets say Mr Chia Tian Li Makes $40k a year (ya i know quite little), the government will contribute a maximum of $949 extra a year into his superannuation if he contributed $632.
So every year thathe works until his pay hits $58,980, he can receive extra contribution from the government. Pay $632 a year for $949 extra a year, where else on earth do you get such a deal!
I think its quite similar to the contribution singapore that the singapore government has and i think its a good way to not only save money, but to generate some extra cash.
Australian Government puts in an extra $1.50 for every $1 extra you put into your superannuation. Thats alot of free money. But it is capped at $1500. And for every $1 in salary you make above $28,980, they contibute $0.05 less.
So lets say Mr Chia Tian Li Makes $40k a year (ya i know quite little), the government will contribute a maximum of $949 extra a year into his superannuation if he contributed $632.
So every year thathe works until his pay hits $58,980, he can receive extra contribution from the government. Pay $632 a year for $949 extra a year, where else on earth do you get such a deal!