Set out below are all SuperGuide articles that relate to Super and tax.
Tax in SMSFs and regular super funds: Which is better?
All super funds pay the same tax rate, but there are differences in the ability of SMSFs and large super funds to manage their tax liabilities for the benefit of members.
Super for beginners: How superannuation is taxed
This article broadly explains how superannuation is taxed, including when you make contributions, as your super grows, and when you access your super.
Income tax: Australian tax brackets and rates (2020/21)
Learn the Australian income tax rates for 2019/20 and 2020/21, as well as details on how income tax is calculated, deductions, offsets and levies.
Guide to the Low and Middle Income Tax Offset (LMITO)
The Low and Middle Income Tax Offset (LMITO) helps low and middle income earners lower the amount of tax they need to pay. Because it is a tax offset, it can only be used to lower the amount of tax that you owe and not to generate a tax refund or pay your Medicare Levy.
Guide to the Low Income Tax Offset (LITO)
The $700 Low Income Tax Offset (LITO), combined with the tax-free threshold of $18,200, and the Low and Middle Income Tax Offset effectively allows working Australians to earn up to $22,801 for the 2020/21 financial year before they need to pay any income tax or Medicare Levy.
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Personal income tax cuts (2018–2025): What it means for you
The Personal Income Tax Plan which provides targeted tax relief over seven years for low and middle income earners and protects middle income Australians from bracket creep consists of three steps.
How does SAPTO work? (Senior Australians and Pensioners Tax Offset)
The Senior Australians and Pensioners Tax Offset (SAPTO) won’t shower you in riches. But depending on your age, relationship status and income, it could provide a handy tax offset of up to $2,230.
Your tax guide to accessing your super under age 60
Although you can retire and access your super if you’re under age 60, the tax man is going to want his cut, so ensure you understand the rules before acting.
Your tax guide to accessing your super over age 60
Knowing how much tax you’ll pay when you withdraw your super savings is important and the rules change once you reach age 60.
Proportioning rule and super tax: What it is and why it matters
When it comes to your super benefits, tax is always at the heart of it, whether it’s when you make a contribution, or when you take your money out at the other end.
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What just happened to our tax? Here’s an explanation you’ll understand
With all the announcements on tax over the past few days it’s hard to keep track. So here goes. A year ago the then treasurer Scott Morrison unveiled a “seven year personal tax”.
Capital gains and super: Using super contributions to reduce your CGT bill
Super contributions can be used in many different ways when it comes to planning your finances and saving for your retirement. In the right circumstances, they can also be a very useful tool for minimising your tax bill.