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  • 13 Income and Government Assistance
  • Superannuation
  • Superannuation Schemes and Benefits
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Superannuation Schemes and Benefits

What to Know About Superannuation

The Government encourages saving for retirement in a variety of ways, mainly by giving superannuation tax concessions. There are three times at which tax is important: when money goes into the fund, while it is there, and when it comes out. Money contributed to superannuation can be taxed a...

Choice of Superannuation Funds

From 1 July 2005, about half of Australia's employees are able to choose the superannuation fund into which their contributions are paid. The choice made could have a big effect on the type and amount of benefit available, and it is worthwhile considering the benefits available before a choice is...

Taxation, Pensions and Lump Sums

Taxation If the beneficiary is 60 years of age or more, all pensions paid from a taxed source are tax-free. If the beneficiary is over 60 and retired, or is over 65 years of age, lump sums paid from a taxed source are tax-free. If the pension is not paid from a taxed source (such a...

Regulation of Funds

Almost all private sector superannuation funds are regulated by the Superannuation Industry (Supervision) Act 1993 (Cth) ("SISA"). These are called regulated funds. Funds operated by Commonwealth, state and local government bodies, and by public sector bodies established by statute, are often not...

Page last updated 14/12/2017

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