Super and tax

Find out how your superannuation is taxed including what happens if you retire before the age of 60 – tax, the tax-free benefits on or after the age of 60, how the earnings on your super savings are taxed, how your super contributions are taxed, and the tax implications of leaving your super benefits to family or friends when you die.

You can also learn some of the popular tax-effective super strategies, including how the super tax rules affect SMSFs.

Below are some of our key Super and tax articles:

Set out below are all SuperGuide articles explaining Super and tax.

Liberals to impose $1.6 million cap on pension start balances, if win election

Note: The proposed policy will apply to both existing and new pension accounts from 1 July 2017, which means the policy will apply retrospectively. Based on federal treasurer Scott Morrison’s comments after announcing the 2016 Federal Budget, he claims this policy is not retrospective, that is, it … [Read more...]

ALP to tax pension earnings above $75,000 a year, if wins election

Note: Based on the ALP’s own election documents, this policy will be applied retrospectively, and will apply to all super pension earnings above $75,000 a year, from 1 July 2017. The ALP claims this measure is not retrospective, that is, it only applies to superannuation pensions started from 1 July … [Read more...]

Retirement and tax: What are the minimum pension payment rules?

Q: I am 63. I want to retire next year but I am not sure if I want to access my super benefits yet. I have heard that when I retire, I must withdraw some super benefits each year, otherwise I won’t receive tax-free super benefits. Can you please clarify the rules for me?A: Your question is … [Read more...]

SMSF pension payments: A little bit under may be OK

SuperGuide often receives questions from readers asking what happens if they don’t withdraw the minimum pension amount required to be paid each year from their pension account, especially when the underpayment is due to an honest mistake, or due to circumstances beyond their control.Before … [Read more...]

Australian income tax rates for 2015/2016 and 2016/2017 years

The Australian income tax rates applicable for the 2016/2017 financial year, and the 2015/2016 and 2014/2015 financial years are set out in the tax tables below (lists the tax brackets and individual tax rates). We have also included the tax brackets and individual tax rates for the 2013/2014, … [Read more...]