Super and tax

Find out how your superannuation is taxed including what happens if you retire before the age of 60, 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.

Great news! Seniors Health Card income thresholds indexed, finally

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Effective from 20 September 2014, the income test thresholds for the Commonwealth Seniors Health Card have increased for the time in 13 years. The new indexed income test thresholds appear later in the article. Since we started SuperGuide nearly 6 years ago, I have highlighted the lack of … [Read more...]

Superannuation Guarantee increased to 9.5% for 2014/2015 year, then stalls for 7 years

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From 1 July 2014, the Superannuation Guarantee rate increased to 9.5% (from the 9.25% that applies for the 2013/2014 year). Based on advanced legislation currently before parliament, the SG rate will remain at 9.5% for 7 years, increasing to 10% from July 2021, and eventually to 12% from July 2025 … [Read more...]

Super tax refund for lower-income earners continues for 4 more years, then axed

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SUPERGUIDE ALERT: The Coalition government is repealing the Low Income Super Contribution: due to parliamentary negotiations to secure passage of the repeal of the Mineral Resource Rent Tax, the government has extended the LISC for 4 more years. Under the legislation likely to be passed by … [Read more...]

Accessing super early: Terminal illness

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Q: I have a terminal illness. Can I access my super benefits? A: I’m sorry to read about your illness. The superannuation rules do recognise that super benefits can be accessed early under such devastating circumstances. For your information, ‘terminal illness’ for the purposes of accessing … [Read more...]

CSHC income test: What is untaxed superannuation and taxed super?

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Note: This article explains how super benefits are counted towards the Commonwealth Seniors Health Card. If you are seeking more detailed information on the CSHC changes announced in the 2014 Budget, or whether you’re eligible for a CHSC, see SuperGuide articles Seniors Health Card (CSHC) changes to … [Read more...]

Accessing super early: Terminally ill receive tax break

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Individuals with a terminal medical condition are able to access their super lump sum payments tax-free, regardless of age. A super fund can release super benefits to a member if they have a terminal medical condition. According to the legislation, a terminal medical condition exists if two … [Read more...]

Accessing super early: Not for business debts

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Q: I am in partnership in a franchise business. We have been struggling since the beginning of the recent financial crisis, and have fallen behind on rent and we are just managing to keep up with service providers. I would like to withdraw my superannuation to invest into the business. I only have … [Read more...]