The magic of compounding

Use online calculators to work out how your tax refund can help grow your super or investments over time.

Repeat the process year after year, from as young as possible, to multiply gains. Consider incentives such as tax deductions for personal contributions, or the government co-contribution of up to $500 for lower income earners that effectively delivers an instant 50 per cent return on investment. Don’t be afraid to invest during market weakness – you’ll get more assets for each dollar.