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.

Superannuation changes: What rules apply for the 2016/2017 year?

Although the newly elected Coalition government has announced significant amendments to Australia’s superannuation rules, many of the big-ticket super policies are not changing, and many of the proposed changes will not apply for the 2016/2017 year.Apart from the $500,000 lifetime after-tax … [Read more...]

Cashing in on the co-contribution rules (2016/2017 year)

Note: This article explains the co-contribution rules for the 2016/2017 year (and later in the article, also for the 2015/2016, 2014/2015, 2013/2014, 2012/2013 and 2011/2012 years).The federal government is giving away money to anyone who makes a non-concessional (after-tax) contribution to … [Read more...]

Super concessional (before-tax) contributions: 2016/2017 survival guide

Note: The concessional contributions caps for the 2016/2017 financial year are not affected by the 2016 Federal Budget announcement to reduce the size of the annual concessional cap from 1 July 2017. For information about the proposed, lower concessional cap of $25,000 for all age groups, effective … [Read more...]

Your 2016/2017 guide to non-concessional (after-tax) contributions

SUPER ALERT! On 3 May 2016, the federal government announced an IMMEDIATE cut to the non-concessional contributions cap, including a cessation of the bring-forward rule (explained later in the article). Although this change has immediate effect, from 3 May 2016 (7.30pm), it is still subject to … [Read more...]

SMSF advice: Is your accountant still allowed to help your fund?

Being the trustee of a self-managed super fund can be a challenging task at times, and most people need a bit of help at certain stages when running a SMSF, particularly when a decision, or strategy, requires financial advice. Traditionally, many Australians have turned to their accountant for … [Read more...]

Capital gains: Reducing tax via super contributions

Q: I have a self-managed super fund (SMSF) and I also have two investment properties in my personal name. When I sell the properties, I will be required to pay capital gains tax. Can this capital gains tax be offset by a contribution to the SMSF which would be tax-deductible? Would there be a 15% … [Read more...]

Know your super limits: Reducing CGT via concessional contributions

Q: I am one of those people (and my wife) who made the decision years ago to invest in property rather than super. Now at 60, (wife 57) I am retired and live off my property investments. I would like to get rid of the properties at about age 65. Mainly because of the worry, and maintenance upkeep, … [Read more...]

Tax-deductible super contributions: Claim no more than your income

Q: If I make a personal concessional payment of $30,000 (tax-deductible) into my super fund and my personal taxable income for 2015/2016 is $20,000, are there possible tax penalties because I’m claiming $10,000 more than my taxable income?I suggest you chat to a registered tax agent, typically … [Read more...]