... July 1 2014, earnings on superannuation pensions and annuities of more than $100,000 annually will be taxed at 15 per cent, instead of being tax-free." Does this mean that a married couple can each receive $100,000 tax free from the same 'Family Self Managed Super Fund'? Or are each of these two people limited to $50,000 per year tax free?
Google - The Australian government has stated that the change in the Superannuation will be: "From?
- Posted:
- 3+ months ago by Ldolly13
- Topics:
- july, government, australian, cents, google, tax, cent, pension
Details:
Answers (1)
There is a trick in the wording in that it says "earnings on". First off, that usually implies that all pension pots and annuities are lumped together (i.e. your total earnings from all such funds). Occasionally, it implies not just individual earnings but the earnings of a married couple. I'm not sure if this is the case with the Australian government but I wouldn't be surprised given that taxing annuities seems to be a bit of a cutthroat policy, especially as they are mainly funded by money which you've already paid income tax on.