Death and taxes

Article Abstract:

The complex tax rules that apply to superannuation death benefits are analyzed for officially classified dependents and non-dependents of the deceased. Dependents enjoy tax-free payout of his or her proportional entitlement to the deceased's death benefit Eligible Termination Payment (ETS), upto a maximum of the deceased's pension Reasonable Benefit Limit, while non-dependent beneficiaries are treated with harsh tax-rules.

Taxation, Pensions

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Bundle of joy

Article Abstract:

The new tax-effectiveness of the employees' salary package for the year 2006-07 is being assessed in Australia. The best outcome can be achieved by packaging a good used car and the fringe benefit tax can be eliminated when workers package a laptop, work-related mobile or car phone, electronic organizers and briefcases, as these are exempted from this tax.

Payroll tax

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Bad news tweak

Article Abstract:

The effect of the government's new decree to cut the tax exemption for complying pensions from 100% to 50% is discussed. The biggest losers are people who run the self managed super funds and fund managers believe that the new scheme is disappointing, as it does not encourage people to invest in superannuation.

Tax exemption, Tax exemptions

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