The taxable component is the taxable portion of a superannuation benefit. An individual pays tax on this component if she receives a benefit under the age of 60 or receives an untaxed benefit.
The following articles refer to Taxable component and superannuation.
Q: I recently read your book on DIY Super for Dummies and picked up a number of useful hints. Thanks for writing it. My wife and I have only recently established a SMSF and are on a steep learning curve. However there is one question which, to date, I have [...]
Q: I am an Australian citizen living in the UK and I have an Australian super fund accumulated from 1986-1992 and now growing with investment earnings over time. Additionally, I continue to hold bank accounts in Australia. I am 52 and I intend retiring at age 60. When I [...]
Q: I will be 60 in January 2011. Is the compulsory 4% drawdown from my super pension treated on a pro rata basis for my tax return 2010/2011 year, or can I draw it down after January 2011 rendering my super income after 60, tax-free? Thank you also for [...]
Q: My wife will turn 60 later on this month and it has always been my intention to cash out her portion of our small self managed super fund (SMSF) and re-contribute it straight back in so as to ensure that when she and I pass away, our children are not [...]
If you plan to leave your super to your adult children when you die, your death benefit may be hit with tax, even though you would have received that benefit tax-free (if aged 60 or over) while you were alive.
The reason for this inconsistency is that death benefits paid to non-dependants, [...]
Although superannuation death benefits are tax-free when paid to dependants, a “death tax” continues to apply when super monies are paid to non-dependants.
Any of your children aged 18 or over, who can’t prove they were dependent on you financially, or to have an interdependent relationship with you, are deemed not to [...]
When you retire early, you’re going to have to make a few decisions. The tax implications of your retiring before the age of 60 can depend on whether you take your super as a lump sum and/or income stream.
Are you taking your super as a lump sum, an income stream or [...]
If you’re aged 60 and retired, you can receive your superannuation benefits tax-free — as a lump sum or as an income stream (regular payments over a period of time). It sounds incredible but it is certainly true. You can enjoy a tax-free income in retirement assuming you have sufficient super savings to deliver you [...]
A superannuation benefit can be made up of two components — tax-free and taxable, which is more straightforward than the rules that applied before July 2007. Before July 2007, taking a super benefit involved up to eight different benefit components.
The rules that have applied since July 2007, are a lot simpler for Australians considering retiring [...]
If you retire before the age of 60, your super benefits are likely to be subject to tax — but not always. With the right structure, and usually with expert advice, many Australians retiring early can end up paying no tax.
If you’re willing to wait until you turn 60 before you retire, you can automatically [...]
Contrary to pre-Budget announcements, the Government is not proceeding with the measure to include gross tax-free superannuation pension income in the adjusted taxable income test for the Commonwealth Seniors Health Card.
The Budget papers use the term ‘gross tax-free superannuation income’ so I assume that lump withdrawals are also excluded from [...]
Note: This article is no longer current. In the 2009 Federal Budget, the Government announced that super pension income from a taxed source would not be counted for the Seniors Health Card income test. You can find out about this change in the article Super pension income excluded from health card test.
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