Introduction: This article was written in response to a tax inquiry commissioned by the Abbott government. The 2015 Tax Discussion Paper, released in March 2015, outlined the terms of reference, and also questioned the merits of franking credits for Australian dividends. The Financial System Inquiry (chaired by David ... Read more
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 referring to Super and tax.
SMSF investment: Companies that pay fully franked dividends
Q: Can you tell me how you find a list of all ASX-listed companies that pay fully franked dividends?The question you ask is a very popular question and unfortunately the answer is no longer straightforward. A complete list of companies that pay franked dividends used to be available for the cost of a daily ... Read more
Super for beginners, Part 26: How is tax deducted from salary sacrifice super contributions?
Q: If I choose to salary sacrifice some of my income into my super account, is the 15% taxed separately on the salary sacrificed super, and then another 15% on amount my employer contributed, or are the two added together then the 15% tax deducted?The contributions tax is generally deducted by the super fund upon ... Read more
SMSF investment: Franked dividends to lose some shine
The Liberal government is reducing the company tax rate to 25% for smaller companies (annual turnover of less than $50 million) by July 2026, and which is already law. The federal government is also proposing to reduce the company tax rate to 25% for all companies currently paying 30%, including large listed companies ... Read more
Great news! Seniors Health Card income thresholds increase, again
Effective from 20 September 2017, the income test thresholds for the Commonwealth Seniors Health Card (CSHC) have increased for the fourth time in 14 years, and will continue to be indexed every September. The new indexed income test thresholds appear later in the article.The CSHC is available to retirees who are ... 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, and to give us more ... Read more
Revisited: Is property a good investment for your SMSF?
We receive a steady stream of emails seeking information about investing in property via an SMSF. In response to this continued interest, we have revisited the popular question, is property a good investment for your SMSF?The question (is property a suitable investment for an SMSF?) is an important one, and the ... Read more
SMSFs: How do I calculate CGT on an asset sale?
Q: If I purchased a rental property in my SMSF for say $300,000 five years ago and the house is now valued at $400,000 in the SMSF what will be the capital base for the calculation of future capital gains tax (CGT) if I sell the flat? Will it be the original $300,000 or the $400,000?A: I am not permitted to provide ... Read more
SMSFs: Selling a property asset and CGT
Q: If my self-managed super fund (SMSF) owns an investment property, and the SMSF later sells the property, what is the amount of capital gain tax payable by the SMSF?A: Before I respond, please note that anyone considering the tax implications of a strategy or investment decision should speak to a registered tax ... Read more
Retirement forecasts from your super fund: 6 facts you need to know
Australians are currently receiving annual member statements from their super funds. When opening these statements, many super fund members will see a comforting projection of how much their account balance is likely to be when they retire, and how much income this account balance will provide each year in ... Read more
Retirementgate: Government’s Age Pension debacle hits middle Australia
In the past few months, SuperGuide, with the assistance of advocacy group Save Our Super, has reported on the ridiculous state of affairs now facing existing and future retirees. The January 2017 Age Pension changes, namely the harsh regressive effect of the Age Pension assets test, have made it financially more ... Read more
Guest contributor: Retirees lose savings due to 2017 Age Pension changes
Note: During the past few months, with the assistance of advocacy group Save Our Super (and using financial modelling provided by Sean Corbett), SuperGuide has highlighted the inequities and disincentives created by the January 2017 changes to the Age Pension assets test. SuperGuide has named this policy debacle, ... Read more
