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November 9, 2014
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Superannuation

If you are earning over $450 per month (before tax), you employer will pay a minimum of 9% of your earnings into a superannuation fund (retirement savings fund).

Normally you cannot access this money until you reach 55, but temporary residents and visitors on a Working Holiday visa can reclaim their money when they leave Australia. Money in your super fund is subject to withholding tax.

Contact the Australian Taxation Office (tel 13 10 20; website www.ato.gov.au/super/) for further information on superannuation.

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