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Luke on 2CC – Is super taxed when I die?
Estate planning – Is there tax on super?
Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in The Money Show which aired on Friday 27 May 2022. Leon starts the show, assessing this topic is perhaps the most depressing ever – not only might you die, you might also have to pay tax on your super! This week’s topic is: Does your estate pay tax on your super?
Key topics covered include:
– What happens to your super when you pass?
– Have you put in place a binding nomination if you are working, or perhaps a reversionary pension if you die?
– Generally, if a husband or wife passes, super goes to the spouse or dependent children tax-free.
– What happens if the money goes to a non-dependent child?
– Is life insurance within super taxed? How might you plan for that?
– What is the tax rate?
– Can you use the removal of the work test rules to take money out and put it back in tax free?
– Remember, your will doesn’t cover your super and an enduring power of attorney is a useful document too.
– Luke offers his insights into considering super as part if an estate plan
Listen to the Podcast right now
https://www.envisionfinancial.com.au/wp-content/uploads/2022/05/The-Strategy-Stacker-Luke-Talks-Money-27052022-2.mp3
Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’
Do you need financial planning advice around your super?
No one wants to pay more tax than they have to, especially at a time of a loved one passing. As always seek advice if you need help.
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals. Make an appointment to confidentially discuss investment, super, and retirement planning. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC next Friday. You can also catch up with The Strategy Stacker – Luke Talks Money podcast.
We look forward to your company again.
View all episodes
By Luke SmithEstate planning – Is there tax on super?
Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in The Money Show which aired on Friday 27 May 2022. Leon starts the show, assessing this topic is perhaps the most depressing ever – not only might you die, you might also have to pay tax on your super! This week’s topic is: Does your estate pay tax on your super?
Key topics covered include:
– What happens to your super when you pass?
– Have you put in place a binding nomination if you are working, or perhaps a reversionary pension if you die?
– Generally, if a husband or wife passes, super goes to the spouse or dependent children tax-free.
– What happens if the money goes to a non-dependent child?
– Is life insurance within super taxed? How might you plan for that?
– What is the tax rate?
– Can you use the removal of the work test rules to take money out and put it back in tax free?
– Remember, your will doesn’t cover your super and an enduring power of attorney is a useful document too.
– Luke offers his insights into considering super as part if an estate plan
Listen to the Podcast right now
https://www.envisionfinancial.com.au/wp-content/uploads/2022/05/The-Strategy-Stacker-Luke-Talks-Money-27052022-2.mp3
Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’
Do you need financial planning advice around your super?
No one wants to pay more tax than they have to, especially at a time of a loved one passing. As always seek advice if you need help.
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals. Make an appointment to confidentially discuss investment, super, and retirement planning. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC next Friday. You can also catch up with The Strategy Stacker – Luke Talks Money podcast.
We look forward to your company again.
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