Hi Diana,
I used to live in USA. Our superannuation is similar to Roth IRA account.
A Roth IRA is a type of tax-advantaged individual retirement account to which you can contribute after-tax dollars toward your retirement. Known as an individual retirement arrangement by the IRS, the primary benefit of a Roth IRA is that your contributions and the earnings on those contributions can grow tax-free and be withdrawn tax-free after age 59½
Note
- our superannuation account deduct 15% tax from contributions up to $30,000/year. Earnings are taxed at 15% and withdrawn tax free after retirement age.
- Roth IRS contribution is done after your taxable income is deducted
Hi Diana,I used to live in USA. Our superannuation is similar to...
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