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Shop at Ebay this Boxing Day via Boost Your Super and get 6% paid into your Superannuation whenever you purchase online!
Shop at eBay and Get 6% Cashback Paid into Your Superannuation @ Boost Your Super
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AssociatedLBoost Your Super on 23/12/2019 - 22:37 boostyoursuper.com.au (417 clicks)
Last edited 31/12/2019 - 10:33 by 3 other users
Last edited 31/12/2019 - 10:33 by 3 other users
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It is legit. Boost Your Super offers a free and easy way for anyone to get free Superannuation, each time you shop online. They have partnered with hundreds of famous stores and if you visit a shop via Boost Your Super, they pay a % of what you spend into your Super account.
what's the classification of this contribution?
non concessional, but still need to give caution to the user because there is a cap on the non concessional contribution every financial year …
they? who are you then????
time to ban this "fake" rep?
So basically another cashbacks site, but paid into super instead of cash.
How does my super fund get paid ?
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lol
Is my account private ?
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Great responses.
seems updated now
Yikes.. 10/16 "questions asked most" are blank answers lol.
I call this BS… Super laws don't allow such things. the only free thing you can get is govt contributions.
Actually pretty sure they do.
so you will declare boost your super as your spouse to ATO to classify this as a spouse contribution?
No, these would be "other third party" - I'd think that's how they should be reported to the fund, who would report them likewise to the ATO.
@Mavstrong: There's no classification as other third party contributions… also your super fund is required to report contributions to ATO btw.
@ozbargainerlife1: Other third party is one of the 15 types of "non employer contributions", reported to the ATO within 10 business days.
Most likely you're directing them to pay your cashback as a non-concessional contribution. Effectively you're making the contribution.
yeah Non-concessional makes sense but that has to be from the member or the spouse
grabs kettles salted caramel popcorn
6% of the popcorn will go into your super!
The other 94% straight to your waist.
La de da Mr French man
Looks like some new business idea 💡 and a stupid one at that
"We make payments within 21 business days of the end of each quarter and may increase the frequency at our discrepancy."
Clearly their lawyers have been all up in here.
.
"We make no promises or representations about the amount of money a nominated super account will receive from Boost Your Super."
Sounds brilliant, where do I sign …
discrepancy
😂
Scams on top of the scam that is privatised superannuation.
Australian's are fools. They cannot lose enough money before they figure it out.
So you’re saying we shouldn’t put money into super?
I think he means chose an Industry Super fund.
I don’t think he means that
Now this is some seriously delayed cashback!
You will not get your cashback if you not gonna live until ~60+. Just saying.
Good luck at 60
I was born in 1972 and can't retire till 65
There is one legit workaround to this. If you are a first home buyer, you can withdraw any contributions made into your super to use as a deposit for your first home. See: https://www.ato.gov.au/Individuals/Super/Withdrawing-and-usi…
** I do not study their business model and I am not associated with them **
** This is just a general comment, not advice and you should ask your tax agent, lawyer or ATO for details **Look like just another cash-back scheme, but you get rebate into super as a non-concessional contribution instead of cash.
If you dig deeper on the website and you shall found the business details "A.C.N. 631 200 425 PTY LTD"
The company is not GST registered, and I am not going to spend any money to look for the details with ASIC.
https://boostyoursuper.com.au/terms-and-conditions T&C is always good to read and you can do the judge.
Merry Christmas ~
Active from 28 Jan 2019
whaaaaaaat?
There's lots of these services popping up. Here's another one: https://super-rewards.com/
They're selling point was about "helping" women boost their super, but the reality is they're payout rates were lower than shopback and cashrewards, so they're just short changing their customers. Worse, they allowed men to join too, despite the marketing hype.
If you're going to get into the affiliate marketing/commission rebates game, just remember that it's a pretty competitive industry and its just a race to the bottom in terms of margins. People see through the marketing fluff pretty easily.
The founders that setup boost your super also founded another similar cash back type scheme shopnate
DO NOT SHARE your superannuation account details with a random third party. Rising fraud cases throughout the industry. Be very wary fellow OZB mates!! Contribute only yourself or via your employer.
This!
Here is a news report about one recent case:
https://www.smh.com.au/business/companies/public-warned-to-c…
Boost Your Deposit next? Have your cashback put straight to an off the plan apartment in Sydney! Combine it with the 5% deposit initiative and you can move in the same time you can access your super!
Where do I sign
Merged from Shop at eBay and Get 6% (Was 3%) Cashback Paid into Your Superannuation @ Boost Your Super
Go to Deal
Shop at eBay today and Get 6% (was 3%) Paid into Your Superannuation @ Boost Your Super. Offer is for last day of 2019 only.
These cash back schemes are getting out of hand.
This one is different, you need to wait until you retire to get the cash back…
How does my super fund get paid ?
We make payments to your super fund at the end of every quarter.You will need to supply your fund payment details once you are registered.Every quater - imagine they get the commission and the interest rate for hold our money back for every quarter lol
I wish you well boostyyoursuper and with this offer, I have to say no. Thanks for nothing ay
They get the commission regardless, same as every other cash back group…they don't do it for the love.
And exactly how much interest do you think 1.5months is worth (if it's every quarter, some of those would be the start, some the end, so average approx 1.5 mths, ignoring compounding)
well if i want , i can do forward my cashback from CR/Shopback to my super without waiting for quaterly :P
@HolyCr4p: But for eBay, cr and SB are 1%…this is 3% usually (based on my quick look at their site)
If TA posted a 3% promo on cashrewards for eBay, how many + votes you think it would get ;)
@SBOB: remember 3 % for today only and after that it might back to 1 %
If you think it is beneficial for you because 2 % up, it is up to you .But for me it is too much hassle as I have to wait for few months(same other sites) then quaterly to get paid to mt super . Call me old fashioned ,I dont like to share my super detail except for my employers and ATO.@HolyCr4p: it's actually 6% today then back to 3%. So an extra 5% on a large purchase might be worth it.
@SBOB: furthermore, they increase it as they need to attrack new customer. Marketing strategies then after that they will drop it again
But for eBay, cr and SB are 1%…this is 3% usually
I trust SB & CR to pay it out. I don't trust these Boost Your Super jokers.
well if i want , i can do forward my cashback from CR/Shopback to my super without waiting for quaterly :P
Except that with Shopback you have to wait a quarter or more before you get your money anyway. So they are collecting interest on your money too.
@serpserpserp: I don't think so. I don't think retailer pays out until the stipulated date. In the cases of returns or what not, they don't want to pay referrals on items they have refunded.
I don't think retailer pays out until the stipulated date.
I doubt this. There is no way CR/SB pay out on the stipulated date and retailer pays in on the same date. Too much risk of being overdrawn. I'm sure the retailer either pays in anywhere from a few days after purchase up until maybe 3-7 days before they pay out to the user. Obviously the terms for Amazon might be the day before compare to some random small retailer that might have to pay weeks before. Depends on the bargaining power obviously.
I’d only wanna put money into my super if I was close to retirement otherwise invest for something sooner….unless of course your bad with money but then why would you be on ozbargain XD
Depends how much tax you pay.
Cashback Paid into Your Superannuation
Why? Will it decrease my assessable income?
check with ATO or your tax agent
It was a rhetorical question !!
Everyone should know that the answer is No.
It CAN decrease your taxable income if you lodge a deduction notice with your super fund after the contribution is made and before you lodge your tax return.
I'd rather 1% paid into my pocket, the super option should be 50% to be a deal
Ok don't do it then.
Normal Cashback schemes at least give you the choice of putting into super. What the hell is this??
Wow, that $20 purchase will really help my super in ~50 years.
It compounds.
In 50 years that $20 will be ~$600, assuming a 7% pa return.
Well the $20 will only be $1.20 since it's only 6% of it. But don't worry, I won't hit retirement age anyway with global warming going the way it is.
$600 divided by, as a minimum, the increase in the cost of living. 1.03^50 brings it back to $135
Regardless, that's best case, if you can get your nominal 7% elsewhere it isn't any better
Does it stack with Ebay codes or gift cards?
Just be aware there is a cap of $25k that can be paid into super each financial year (including compulsory super paid as part of your wage). If you go over this, depending on your income, you could be hit with a tax bill. Also depends on if these payments are classed as being paid before paying tax or after (concessional/non-concessional). Not that this will make much of a difference, but if you calculated your payments up to the max value and then this payment pops in and pushes you over, it could be more hassle than it is worth. As per this ATO link, you could pay up to an extra 94% tax (extreme worst case).
Contributions are classified as after tax so most people will not have an issue with breaching caps unless they are making $300,000 in one year or are claiming a personal tax deduction above their concessional limit (in which case you can still lodge to have the excess amount withdrawn from super).
As long as the company pays the amount out then it is a good deal….
The super contribution goes in as after tax…you still have the ability to claim this either as a personal tax deduction subject to your concessional limits…or you can leave it as an after tax contribution and possibly get the co contribution if your income is under the threshold.
Yes…you cannot access funds till preservation age, however this means you also get the benefit of compounding and funds being in a tax environment of less than 15%.
So if you are getting 6% back as an ROI on a purchase, that's a good deal.
this legit? Did anyone try before?