Super benefits tax split set under new regulations
Fri Apr 13 2007
The Age --- Page: B2 : 13 April 2007 Original article by Max Newnham
ABIX Summary
There are many changes happening to Australia's superannuation regime from 1 July 2007. One of the most significant developments involves taxation: namely, that super benefits have proportionate tax arrangements under the new regulations. To explain, if a super fund has exempt benefits of 20 per cent and taxable benefits of 80 per cent, pensions or lump sums must also be paid in line with the 20-80 split. For people receiving a pension from a super fund, the proportions are fixed from the start date of the pension and even apply to surplus super benefits at death.
