Superannuation:
A)facilitates long-term savings to provide a retirement income
B)contributions and earnings are taxed at 15%, a concessional rate
C)is compulsory for workers in Australia
D)is the government's approach to reducing reliance on the aged-pension.
E)All of these.

Question

Quizplus · Accepted Answer

All of these statements are true. Superannuation is a program in Australia that encourages long-term savings for retirement by making contributions and earnings taxed at a concessional rate of 15%. It is compulsory for workers in Australia and is the government's approach to reducing reliance on the aged-pension.