Opinion
Super’s new dilemma: save yourself tax or reduce it for your kids
The question is whether to restructure in an attempt to reduce your tax bills or those of your future beneficiaries.
Ben SmytheContributorWhile significant structural tax reform is pushed further and further down the road, superannuation continues to be a very attractive vehicle for politicians on both sides to chip away at when it comes to increasing tax revenue.
The most recent change is the Division 296 tax, which levies an additional 15 per cent tax on earnings on your total superannuation balance above $3 million.
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Ben Smythe is a partner and principal adviser of Minchin Moore Private Wealth.
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