Problem
I. Why would it be expected that the vast majority of newly created employer-sponsored private sector superannuation funds would be established as accumulation/defined contribution schemes instead of defined benefit schemes?
II. A client, joe has asked you to calculate his savings in his net tax payable by contributing $10,000 as a salary sacrifice superannuation contribution instead of receiving the same amount ($10,000) as part of his annual salary of $150,000. For the purposes of this question, do not include Medicare levy and any superannuation guarantee payments for this year.