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.

Super tax refund for lower-income earners to extend beyond June 2017

In a welcome backflip, as part of its 2016 Federal Budget release on 3 May 2016, the Coalition government has announced it will extend the Low Income Super Contribution (LISC) beyond its legislated expiry date of June 2017. The only change is that it will be renamed as the Low Income Superannuation … [Read more...]

Transition-to-retirement pensions: Will TRIPs stay, or will they go?

On 3 May 2016, in the 2016 Federal Budget, the Liberal government announced that, from 1 July 2017, it intends to remove the tax exemption on pension fund earnings financing a transition-to-retirement pension (TRIP).If the Liberal government is successful at the July 2016 Federal Election, then … [Read more...]

Double contributions tax for more high-income earners

Note: Currently, anyone earning an adjusted taxable income of more than $300,000 pays an extra 15% tax (total of 30%) on super contributions. Previously, the ALP had announced a policy to bring the income thresholds down to $250,000, and the Coalition government support lowering the threshold to … [Read more...]

Temporary Budget Repair Levy: More income tax for high-income earners until June 2017

Note: In the 2016 Federal Budget, the Coalition confirmed it would cease the TBRL as legislated, but the ALP has announced that it would re-introduce the levy if it won the 2016 Federal Election on 2 July. Previously, in rare bipartisanship, the ALP supported the Coalition’s decision to temporarily … [Read more...]

Liberals to ban anti-detriment payments from July 2017

On 3 May 2016 (2016 Federal Budget), the Coalition government announced that it intends to abolish the anti-detriment provisions from July 2017, assuming of course that the Coalition wins the July 2016 Federal Election.From 1 July 2017, a super fund will not be able to pay a refund of a member’s … [Read more...]

Super contributions: Over-50s concessional cap (10 Q&As)

In this article, you can find the answers to 10 popular questions received by readers on the concessional (before-tax) contributions cap for over-50s.For a comprehensive guide on concessional contributions, see SuperGuide article Super concessional (before-tax) contributions: 2015/2016 survival … [Read more...]

Super contributions caps for the 2015/2016 year

The superannuation contributions caps for concessional (before tax) and non-concessional (after tax) contributions will not increase for the 2015/2016 year. The contributions caps applicable for the 2015/2016 year, will be the same limits in place for the 2014/2015 year. Concessional … [Read more...]

Women and super: A worry-free financial future is possible

Before I wrote Super Freedom: A woman’s guide to superannuation, I had often discussed the need for a practical non-technical book for women on superannuation. The first question I was asked when I told some female friends that I was writing a book for women on superannuation and retirement was: … [Read more...]