casfriends.blogg.se - Super sume pro stage 2

If you feel that our information does not fully cover your circumstances, or you are unsure how it applies to you, contact us or seek professional advice. Make sure you have the information for the right year before making decisions based on that information. Some of the information on this website applies to a specific financial year. If you follow our information and it turns out to be incorrect, or it is misleading and you make a mistake as a result, we will take that into account when determining what action, if any, we should take. We are committed to providing you with accurate, consistent and clear information to help you understand your rights and entitlements and meet your obligations. If you invest the money, the money that you earn on those investments will not be taxed as super and may need to be declared in your tax return.Ĭheck your super You can receive your super as a super income stream, super lump sum or a combination of both.

If you take a lump sum out of your super, the money is no longer considered to be super. However, if you ask your fund to set up regular payments from your super it is considered an income stream.

You may be able to withdraw your super in several lump sums. If your super fund allows it, you may be able to withdraw some or all your super in a single payment.

when you die, unless you have a dependant beneficiary who is automatically entitled to receive the income stream.

commutation (when you convert a super income stream into a super lump sum).

when there is no money left in your super account.

a non-account-based super income stream.

Super income streams are sometimes called pensions or annuities. Super income streams are a popular investment choice for retirees because they help you manage your income and spending. The payments must be made over an identifiable period of time and meet the minimum annual payments for super income streams. You receive a super income stream as a series of regular payments from your super fund (paid at least annually). The super withdrawal option that you choose may affect the amount of tax you pay and the amount of money you have for your retirement. Check with your fund to find out what options are available to you. You can receive your super as a super income stream, super lump sum or a combination of both.