Superannuation
Date Started: 07 May, 2009
Date Completed: 07 May, 2009
Results: 5/10 questions answered correctly.

QUESTION 1: There are two phases of Superannuation, these are:
You answered this question INCORRECT
Your answer was Concessional and Non-Concessional.. The correct answer was: Accumulation and Pension.

QUESTION 2: What are three examples of the types of super funds that are available to you in the Australian market place:
You answered this question INCORRECT
Your answer was Self-Managed Super Fund, Pension Fund and Accumulation Fund. The correct answer was: Industry Fund, Retail Fund and Corporate Fund.

QUESTION 3: The current annual contributions cap limit for concessional contributions (where a tax deduction is claimed) is:
You answered this question CORRECT

QUESTION 4: Salary Sacrificing to superannuation can be summarised as:
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QUESTION 5: If you were eligible for the full government co-contribution, how much government contribution would you receive if you were to contribute $500 into super from your own cash?
You answered this question INCORRECT
Your answer was $1,000.. The correct answer was: $250.

QUESTION 6: What proportion of your total income can you earn from employment and still be eligible to claim a tax deduction for a personal super contribution?
You answered this question INCORRECT
Your answer was Less than 50%.. The correct answer was: Any amount.

QUESTION 7: 7. You earn $50,000pa and are in the 30% tax bracket plus Medicare Levy of 2%. After allowing for the superannuation contributions tax, what is the net tax saving from salary sacrificing $5,000 to super?
You answered this question INCORRECT
Your answer was $1,600.. The correct answer was: $850.

QUESTION 8: The tax rate on earnings generated within an Account Based Pension account is:
You answered this question INCORRECT
Your answer was 10%. The correct answer was: 0%

QUESTION 9: What type of pension account allows you access to lump sum withdrawals whenever you need funds?
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QUESTION 10: Which of the following statements are not a benefit of running your own Self-Managed Super Fund?
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