Inheritance tax: Is the tax office a beneficiary of your super?
Officially, it has been 40 years since Australia abolished the formal Inheritance Tax, or death tax. But we think that’s bunkum. There is tax payable on super when you die and leave your money to your adult children.
Fortunately, a rule change that came into effect in July can help. But only if you engage and act.
Federal Budget: What about me?
Retirees and people actively planning for their retirement may be forgiven for thinking that they have missed out. That there is little in this year’s Budget to benefit them personally. But scratch beneath the surface, and we see that retirees may actually benefit most.