- Description
-
Superannuation (super) is a specifically designed long-term investment vehicle for individuals’ retirement savings. The retirement income system includes:
- a compulsory element of super – the superannuation guarantee – which requires employers to contribute a minimum level to their employees’ super accounts
- a voluntary level of super encouraged by tax concessions and the government’s co-contribution scheme
- the age pension and associated social security arrangements that provide an income safety net for retirees.
The ATO plays a major role in administering the compulsory and voluntary elements of the super system. During the period covered by these statistics, the ATO has had responsibility for:
- income tax on super funds (reported in chapter 4)
- the other income tax aspects of super
- the superannuation guarantee
- the superannuation holding accounts special account
- the Lost Members Register
- unclaimed super monies
- departing Australia super payments
- the regulation of self-managed super funds
- the co-contributions system
- excess contributions tax on individuals
- the superannuation contributions surcharge
- the termination payments surcharge
- the temporary residents measure.
An increasing number of Australians are directly affected by Australia’s super system tax regime. By 30 June 2010, there were:
- approximately 1.36 million registered employers
- 431,968 super funds
- $1.28 trillion in total assets held by super funds.
As at 30 June 2009, approximately 89% of employees had some form of super and there were approximately 32.7 million member super accounts.
During the 2008-09 financial year there were:
- $39.9 billion in member contributions
- $71.1 billion in employer contributions
- $61.9 billion in member benefit payments.
- Download
-
- 00268761.htm&page=21&H21 (Other) 0.00KB - 337 hits
- Date Published
- 7 April 2011
- Date Updated
- Not specified
- Update Frequency
- Not specified
Dataset Information
- data.gov.au Category
- Business, Community, Finance, Government, Industry, Society
- Keywords / Tags
- 1001, BAS, benchmarks, business, capital, CGT, codes, company, compliance, cost, data, debts, excise, FBT, file, Fuel, fund, gains, GST, GST (Goods and services tax), HELP, Individual, Individuals, Net tax, partnerships, PAYGI, PAYGW, post, postcodes, prescribed private funds, ratio, ratios, sample, schemes, statistics, Stats, Superannuation, Taxation, Taxation statistics, taxstats, trust
- Licence
- Creative Commons - Attribution 3.0 Australia (CC BY 3.0)
- Permalink
- http://data.gov.au/2727
Contributing Agency Information
- Agency
- Australian Taxation Office (View all datasets from Australian Taxation Office)
- Jurisdiction
- Commonwealth of Australia
- Agency Program
- Taxation Statistics 2008-09
Dataset Coverage
- Temporal Coverage
- 2008-09 Financial Year
- Geospatial Coverage
- Australia
- Granularity
- Not specified
