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Greeting from down-under.

I dont know how IRA in US works. Super used to be a good thing in the past at this stage I am not sure how it is. The way super works is the employer pays a fixed amount towards your super and at this stage it is fixed at 8% of your salary. Apart from this you can make your own contributions towards super. How much you can put depends on your age etc eg., till age of 40 Years the max money you can put in super is 30,000.

Now if you are earning more than 50,000/- then you fall into the high tax bracket ie., 48.5% tax plus you pay for medicare levy etc.

The money you put into super gets charged at 15% only upto a salary of 70,000/pa and goes up by 1% for each thousand, so if you are earning 90,000/pa you pay 48.5% income tax but if you make some contributions to super then those contributions gets chaged at 30% so the real tax saving is only 15% on a small amount only(since the max contributions is 30,000 only)

Again when you retire and get your super there are different rules, taxes etc.

Hope I have not confused you more.
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