bjbrian

Hi all,

Anybody know much about Savings, Pensions, Super, Funds, Wraps or SMA's.

My business in the UK has been in software to deal with various forms of Investment management and similar, so I am keen to find as much information on the oz equivalent to see if i can make good use of my skills and find work in, and or find business in the same area.

Any info appreciated on the whole area and business / work opportunities, or if not that just you experience of how effective the super schemes seem to be.

Thanks in advance.

Brian.

bjbrian

Anybody. Anything on how super works, or on investment ideas in oz would be a helpful start.

Thanks in advance.

Brian.

geordie downunder

It is not a very clear question,super is 9% of wages taxed ingoing at 15% so a shit system .Work for 40 yrs @ 9% you have contributed 3.6 yrs wages,take off tax 3 yrs as a round number.Employer pays the 9% you can contribute more with different rules for employees and self employed people.Investing is the same as any country,the more income producing assets you have the wealthier you are,so buy shares and property and eventually live off rents and dividends.Franked shares carry a 30% tax credit (company tax credit in the UK?) and for normal rate taxpayers (30%) mean no taxes payable on dividends.interest paid on borrowed money is a tax deduction,as long as income is derived/expected to occur from said borrowings.Wraps etc are normal things as in the uk.