I was told if you are dying you can take out all of your Super and put it into you bank account hence not paying tax to non dependent beneficiaries. Eg. our sons (over 18)

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I was told if you are dying you can take out all of your Super and put it into you bank account hence not paying tax to non dependent beneficiaries. Eg. our sons (over 18)

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This is a good summary of the current situation regarding the super death tax

It would have also been helpful to mention how to reduce the tax burden by using the recontribution strategy available to those retired until age 75. This can reduce the taxable component considerably over the years

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Hi I am 63 years old and retired ,shortly I will receive an inheritance of around $200,000 I intend to deposit this amount into my accumulation super account

which is still. in accumulation mode ,current balance $248,000 Is there any restrictions on the amount I can deposit and is there any taxation payable

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Is this statement correct? regards Barry Osmond

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Yes, it is.

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I am interested the the interdependency relationship secion of this article. Whilst my husband meets every criteria of the 'interdependency relationship' - his terminally ill sister lived with us in her last months - there doesn't appear to be a set timeframe that the relationship in ATO legislation. We have spoken to 2 accountants and a tax advisor, who all agree he meets the criteria, but the timeframe (of 2 months) is not long enough. However they all admit there is no time amount set anywhere in the ATO legislation, and it would be up to a private ruling to consider (something accountants don't want to know about). I have looked at many previous (similar) rulings, but can't find anything about timeframes and timelines. Is it worth us applying for a private ruling?

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My son has just died he has me named as non binding beneficiary can I elect for this to go to his estate to pay expenses

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I have elected to have my late son's super balance paid directly to me. The fund will withhold 15%. Will the remaining funds form part of my taxable income?

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