Death Benefits
Tuesday, April 3rd, 2007
Death Beneifts
The new simplified superannuation rules which take effect from the 1st July 2007 introduce a number of changes on how superannuation is taxed upon the death of a superannuant.
Superannuation accounts on the 1st July will be divided between an exempt component and a taxable component. The exempt component is received by the beneficiary tax-free while the amount of tax payable on the taxable component will depend upon whom it is paid to.