Super can be a tax-effective way of saving for and receiving an income in retirement, compared to other types of non-super investments, but there are some key considerations to keep in mind.
The Australian tax system can be complex, and there can be significant tax implications associated with super. It’s always a good idea to get professional advice when making any decisions about your financial future.
As a general guide, here’s a summary of how tax works with a super pension (please remember this isn’t a comprehensive tax guide):
For more details on tax and super, refer to your Member Guide (PDS) or Member Booklet.
When you take these choices and factors into account, together with the potential tax implications and possible effects on Age Pension or other government entitlements, it’s essential to get the right advice before finalising any decisions. There are different advice options available to you as a member.Find out more