What Happens To Your Super When You Die?
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  Running Time: 5:34 Date: 01/12/2012 Some good news from the Tax Office - they're changing the rules on how your super is taxed after you die. The Federal Government's mid-year Economic Statement, brought down in October, contained some welcome news about the taxation of super benefits after the death of a pensioner member of the fund. Tax expert Michael Jones, of Cummings Flavel McCormack, says there's been an incongruity in tax treatment between the payout of benefits while the member was still alive - when they'd be tax-free - and the payout after death, when they would in some circumstances be taxed. The ATO has responded positively to concerns raised about that, and a change will take effect from July 1, 2012. It's a complicated area and you should seek advice. Topics: Accounting & Tax, Investment, Legal |
 Michael Jones, Cummings Flavel McCormack |