What Tax Do I Pay Inside Super? [2024 Guide]

In this video you will discover what tax you pay inside super, so that you can make the right decisions when planning your retirement. You also LEARN how super can help get your tax bill down to $0.

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⏱ Timestamps

00:00 - What Tax Do I Pay Inside Super?
00:26 - Tax Incentives of Super
01:07 - Tax on Non-Concessional Contributions
01:23 - Tax on Concessional Contributions
02:54 - Tax on Investment Earnings (Accumulation)
02:47 - Tax on Investment Earnings (Pension)
04:32 - Example: Long-Term Benefits of Super
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-- What Tax Do You Pay Inside Super? --

The main incentive of contributing and investing in super is the tax concessions it provides. Firstly, the contributions made to super may help reduce your personal income tax and, secondly, the tax rate applied to investment earnings within super will generally be lower than the tax applied to earnings derived from investments held in your own name.

There are two types of contributions that can be made to super: concessional contributions and non-concessional contributions. Depending on the type of contribution made, tax may be deducted from the contribution when it enters your account.

After contributions have been made into your account, they are invested and likely to produce investment earnings in the form of income and capital gains. Even when you are retired and are drawing down on your pension, your balance will remain invested. The investment earnings from your balance will incur tax of between 0% and 15%, depending on whether you are in accumulation phase or pension phase.

This video explains exactly how contributions made to super are taxed as well as how investment earnings within super are taxed, including how the tax rate differs between accumulation phase and pension phase. This covers all the types of taxes you pay inside super.

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DISCLAIMER: The SuperGuy website and SuperGuy YouTube channel contains general advice only. It is not personal advice as it does not take your specific needs or circumstances into consideration. Therefore, you should look at your own financial position, objectives and requirements and seek personal financial advice before making any financial decisions.

General advice is provided by Toro Wealth Pty Ltd trading as SuperGuy Retirement Experts as an Authorised Representative of Core Value FA Pty Ltd (AFSL 480387).

Before acting on any information, you should seek professional advice and verify our interpretation/s before relying on the content or calculators within this website or on the videos, while also considering its appropriateness in relation to your personal situation.

Видео What Tax Do I Pay Inside Super? [2024 Guide] канала SuperGuy