Capital Gains Tax Complying Superannuation Funds
Please read our previous Blog on capital gains tax indexation and 50% discount for individuals regarding the general rules which apply.
Similar rules to those outlined in that Blog apply to complying superannuation funds, except that the CGT discount is 33 1/3%, not 50% as for individuals.
A Self Managed Superannuation Fund (SMSF) also has a capped tax rate of 15%. Because of the 33 1/3% discount, this means that Self Managed Superannuation funds only pay 10% tax on capital gains. When a self Managed Superannuation (SMSF) is entirely in pension phase the tax rate drops to 0% meaning that you don't pay any tax on capital gains.
Click Here to contact us to discuss how we can reduce the tax you pay on your superannuation benefit and increase your retirement savings.
by Charles Gromek
Free Business Tax & Structure Review
- Identify ways in which you can pay less tax than you’re doing now
- Develop strategies that can protect one of your most important assets – your business – from adverse claims
- Show you ways in which you can grow your revenues
