An important issue that you need to address. Age 55+: How you can save more for retirement - with no loss of net income. Eliminate Superannuation Death Benefits Tax Now

If you plan to leave your superannuation to your children (such as an adult child), tax will be paid on the benefits when you die. This is because, unlike dependent beneficiaries (such as a spouse or child under 18), adult children have to pay 16.5% on the taxable element of any payment received.

Through the use of estate planning strategies it may be possible to reduce this tax liability to zero. These types of stategies should be considered if you are close to retirement or have already retired and wish your superannuation benefits to be paid to your non-dependent beneficiaries in the future.

To find out more please do not hesitate to contact our office.