The tax that no one really considers but is arguably the biggest superannuation tax of all. Learn what you can do about tax on superannuation death payments.
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⏱ Timestamps
00:00 - Tax on Superannuation Death Benefits
00:51 - What is a Superannuation Death Benefit?
01:10 - Who Can a Super Death Benefit be Paid to?
02:09 - Tax on Super Death Benefits
02:42 - What is a Tax Dependant?
04:10 - Tax on Death Benefit Example
07:21 - Where to Find Tax Components
08:03 - Other Considerations
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--Tax on Super Death Benefits: Can You Reduce It? –
When you pass away, your remaining super balance is paid to your chosen beneficiaries. But, it’s not always tax free. In fact, the tax is often in the tens of thousands of dollars.
The tax on lump sum super death benefit payments is determined by the relationship between you and the beneficiary, the tax components of your super balance, and the age of you and the beneficiary.
This video explores what a superannuation death benefit payment is, who it can be paid to, the tax payable on death payments and an example of how tax would apply in different situations.
#SuperGuy #ChrisStrano #Superannuation #RetirementPlanning
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